In the event that you experience a business loss in the Miami area, you should seek the legal services of Baron & Herskowitz to ensure that your insurance company holds up its end of the bargain and gives you the coverage you are entitled to. At Baron & Herskowitz, our business dispute lawyers have vast experience in handling business loss claims involving wrongful denials and unwarranted delays. If you feel that you are getting the run around from your insurance company, contact us for help today.
Types of Business Losses Covered by Business Insurance
There are numerous types of business losses that can be covered by insurance under a wide variety of circumstances. These include:
- Interruption of business, which protects a business against property damage or loss in case of a fire or other insured incident. In addition, a business can be insured for some future years’ loss of anticipated profits and to retain valuable employees and help recover business that is lost during an interruption period.
- Breakage of machinery, which insures the company against losses when machinery breaks.
- Protection against financial loss for anticipated profit during a start-up period when the beginning date is delayed.
- Credit insurance, which insures the business against a buyer who doesn’t pay for goods or services bought on credit.
- Protection against financial losses due to employee dishonesty, third party fraud, computer hacking, forgery, or copyright infringement.
- Insurance against the loss or theft of money.
- Protection against personal injury occurring during a robbery attempt.
- Insurance purchased on the life of a person or persons who are critical to the function of the company and insures against losses incurred because of their death or disability.
- Protection against the death or critical illness of a company director.
- Insurance should there be kidnapping or supposed kidnapping, personal extortion, property extortion or hijacking.
- Protection against cybercrime.
If an insurance company acts in bad faith and denies your business a claim for payment, the lawyers at Baron & Herskowitz in Miami can help you recover what your insurance company owes you. Our lawyers are highly experienced in insurance disputes and can help you if your insurance company engages in bad faith practices such as:
- Misrepresenting insurance policy facts or provisions
- Not replying to the insured’s communications in a timely manner
- Not acting to resolve a complaint with reasonable promptness
- Failing to promptly investigate the matter claimed
- Refusing to pay claims without conducting a proper investigation
- In those situations where liability is reasonably certain, failing to act by providing prompt, fair and equitable settlements
- Forcing the insured business to begin litigation to recover the amounts properly due when too little is offered
- Trying to settle a claim based on changes in the application that were made without the knowledge or consent of the insured
- Delaying an investigation by requiring the insured to supply duplicate information on the same subject
- Not providing an adequate explanation for why the claim was denied
- Failing to offer a reasonable explanation for not suggesting a compromise settlement
Contact Baron & Herskowitz
If you are a business owner and you believe that your insurance company has mistreated you, contact our law office for help today. We will evaluate the details of your case and let you know if you have a claim.