Course Description
Every year, policyholders near coastlines face the possibility that a major storm will strike the area and cause extensive damage to their property and business. As Hurricanes Beryl, Helene and Milton reminded us last year, these storms are becoming more powerful and occurring earlier and more frequently. Policyholders purchase property and business interruption insurance to protect them against these risks. Unfortunately, simply having a policy does not always guarantee that the insurance company will deliver as expected when a natural disaster strikes. Insurance companies often raise defenses to coverage or adjust claims at amounts that are unacceptably low. This presentation will discuss common issues that give rise to insurance coverage disputes, assess how courts resolve such disputes, and share some strategies designed to smooth out the claims process and maximize recoveries.
Syllabus
- Coverage for named storms, wind, water and flood
- Business interruption coverage
- Other time element extensions
- Calculating business interruption losses
- Working with the insurance company in adjusting the loss