Frequently Asked Questions About Insurance Law

If my business suffers a financial loss resulting from either property damage or liability, what do I do?

First, you need to obtain and review all of the insurance policies that may be applicable to the given situation. This may involve talking to your insurance broker. If you are not comfortable with the information you gather or deciphering the language of the policies (and most of us are not), you should contact an attorney that handles insurance law. After the policies are reviewed, the insurance carriers (all of them) need to be put on notice of the loss. This will likely require an investigation into what took place. (e.g. should weather damage your warehouse, you want to identify the date, cause and extent of the damage as the information becomes available.) If you run into complications getting your insurer involved, it is crucial to obtain an attorney to better facilitate the process and possibly commence litigation as a last resort.

Please Note: this subject matter is very complicated and the information provided here is not to be construed as exhaustive or legal advice.