Florida Business Interruption Dispute Attorneys
The majority of commercial insurance policies provide coverage for lost revenues due to catastrophe, commonly referred to as Business Interruption coverage. For example, should a tree fall onto an office’s roof requiring a shutdown or a natural disaster destroy equipment essential to a business’s operations, the business could rightfully make a claim of business income loss. This coverage becomes an invaluable lifeline for business owners who have experienced a physical loss and, as a result, lost their ability to earn business income. A Business Interruption claim due to physical loss, by definition indicates that your business is facing unprecedented challenges. Unfortunately, those challenges are often needlessly complicated by a complex claim process and insurers’ dogged defense of their own financial interests. Despite diligently reviewing and selecting coverages to protect your business, and despite faithfully meeting your obligation by paying premiums every month, your insurer fails to evaluate your claim fairly or worse, issues a prompt denial and ignores any further effort to communicate. You need a Florida attorney versed in business interruption disputes.
Complicating matters further, “physical loss” is not clearly defined under Florida law. This means the validity and valuation of your claim may lie in subjective interpretations influenced by on-staff forensic accountants and/or other outside experts, selected and paid by your insurer. You need an attorney for business interruption disputes that will fight for the benefits to which you are entitled. Your legal team from Rosenberg Law, P.A. will relieve you of the time, labor and stress of investigating, presenting and negotiating your business income loss claim. We will move quickly to investigate and assess your claim, ensure compliance with all deadlines and reporting requirements, and negotiate fair valuation of your business interruption loss of income. The attorneys of Rosenberg Law, P.A. will fight on your behalf, enabling you to focus on restoring your business operations and otherwise recovering from disaster.
What is Business Interruption Insurance?
Business interruption coverage or business income coverage is intended to compensate you for revenue lost as the result of a catastrophe or other event that forces closure of your business. Business interruption coverage typically includes protections for:
- Operational income lost as a result of closure
- Rental income lost when a property could not be occupied
- Wages paid to retain employees during closure
- Costs of relocation should your business require temporary facilities, including rent
- Fixed costs such as taxes, insurance premiums, mortgages, and licensing fees
- Costs related to lost revenue and lost profits, which are documented via tax returns, profit and loss statements, sales records, and regular accounting records.
- Costs related to technology replacement or restoration—hardware and software required for business operations.
- Costs to retrain workers in using equipment and/or technology differing from pre-loss
