Insurance Recovery in the Face of Natural Disasters
Created on May 22, 2018
For businesses in the path of the storm, maximizing insurance recovery requires assessing not only physical damage to their property but also income losses stemming from flooded and blocked roads and bridges, interrupted shipping and air transport, evacuations, and closures by civil authority. Beyond the area of immediate impact, businesses suffering from supply chain disruptions should look to their property insurance policies for contingent business interruption coverage, triggered when policyholders do not themselves suffer physical damage but still lose revenue after a property loss sidelines a major supplier or customer.
Join Anderson Kill’s Marshall Gilinsky and Ronald J. Papa as they explore the role of insurance and the hurdles to recovery in times of natural disaster.
- Detail the triggers of time-element coverage
- Identify the full range of losses that affected businesses need to document
- Address the nuances of policy language that may become bones of contention
- Develop techniques for ensuring that the insurance company fulfills its obligations during the claims process
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