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(813) 254-7119 Business Interruption Claims

Business Interruption Claims – Income Loss

Business interruption insurance is an optional product for Florida businesses that provides continuing income in the event of a disaster that temporarily closes the business and you lose your income. It can be added to your standard property insurance policy. For example, in the event of a flood that renders your company unable to operate, business interruption insurance compensates for the income you lose while closed for repairs.

Business interruption insurance also covers your company’s basic operating expenses while you are closed, such as water, electricity, payroll and taxes. It can also be extended to cover losses to the property of suppliers or consumers. You may choose to add this coverage to your property insurance, but it is distinctly different. Property insurance covers the costs of repairing the damages to your actual property; it does not include replacing your business income or expenses.

Business interruption insurance is designed to provide your Florida business vital protection when a catastrophe strikes – when you need it the most. During the COVID-19 pandemic, many businesses have been forced to close and have no way to generate income or profits. This is the time to file a claim on your business interruption insurance policy.

Bad Faith Insurance Claims Lawyer

Unfortunately, some insurance companies may resist claims against your business interruption policy due to COVID-19. Business interruption insurance is typically used to cover income losses due to some natural disaster, such as a fire, flood or hurricane. These events often leave destruction in their wake, making it impossible for a business to operate.

The COVID-19 pandemic and the responses to it on local, state and federal levels are entirely unprecedented. Your business has likely suffered no physical damage. Your loss of income is, instead, due to executive orders from governmental leaders that have severely restricted your business operations or even ordered your business to close.

When an insurer refuses to meet their contractual obligations in providing claims payment, this can be grounds for a bad faith insurance claim. Ligori & Ligori Attorneys at Law are your experienced choice in Florida for filing and pursuing a bad faith insurance claim against your insurance company. We have offices in Tampa, Lakeland and Ocala to serve you.

How Can My Insurance Company Show Bad Faith in My Claim?

Insurance companies operate to generate a profit. One significant way of doing this is by refusing to pay or limiting payment of legitimate claims. Some ways insurance companies seek to do this can include:

  • Failing to promptly and thoroughly investigate a claim
  • Unreasonably interpreting your policy language
  • Refusing to settle the case or provide adequate reimbursement for your loss
  • Denying the payment of benefits while terminating the policy

Companies should be on guard for insurance companies that employ these or other dishonest tactics to avoid payment of claims under current or future COVID-19 conditions. Federal lawmakers have suggested that insurance companies should provide coverage for these claims. Some states have introduced legislation that would require insurers to provide coverage for COVID-19 claims. Ligori & Ligori Attorneys at Law is willing to examine your claim and insurance policy to help you determine if a bad faith claim is in your best interests.

Now is not the time to gamble with your company’s future by trusting an insurance company to promptly do the right thing. If you have not yet filed a claim on your business interruption policy for COVID-19, and are wondering if your situation qualifies for coverage, we would be glad to examine your policy and provide counsel. If your Florida business interruption insurance claim for COVID-19 has been delayed or denied by your insurer, contact us online or call Ligori & Ligori at 813-254-7119 to arrange for your free claim evaluation.

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I just wanted to take a quick time out to say something nice about Mr. Tim Sanders. This man spent an entire year handling my affairs like he was my personal friend. He went to bat for me, and I could tell he cared a great deal about me, my case directly, and he clearly takes a great deal of pride and integrity into his work. You hear a lot of negative about lawyers in this world. Tim, was a tireless worker to get me what I deserved. This guy does his living from the heart. I made a really great choice when I called Tim. My wife and I are so thankful we did.

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I got into an auto accident and hired Mr. Sanders to represent me a couple weeks later after my insurance company’s lackluster performance to help get me back to normal. I was nervous, this was my first accident with injury and I had never hired a lawyer before. Well let me say, my expectations were met and exceeded, every step of the way. Ligori and Sanders were focused on me and my health. They were polite, prompt, and went to bat for me when the insurance company was not. Not only would I recommend Ligori and Sanders to anyone who needs them, I would insist.

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