Companies are facing operational and logistical challenges in recovering from the widespread destruction caused by these natural disasters. They will be looking to property damage and business interruption insurance to get them back on track. The time and cost to return to normal operations could be unusually long given the widespread destruction and the lack of labor and resources. Multiple causes of loss impacted many properties, while others endured more than one disaster event. Service interruptions may last well beyond the norm in some areas. All of these severe circumstances could lead to disputes with insurers over maximum coverage for losses if the claim is not carefully handled.
To assist with this insurance recovery process, Reed Smith teamed up with Brad Murlick and Drew Olson from BDO USA to provide an informative free webinar on: “Insurance Recovery for Natural Disasters: Hurricanes, Fires and Earthquakes.” The audio from this webinar can be heard here, and the slides are available here. The webinar contains a wealth of helpful knowledge in handling these claims, such as: the importance of specific policy language, the types of coverage typically available, tips on preparation of your claim, expected areas of dispute with insurers, and thoughts on assembling a team of experts to assist with the claim.