Every business hopes they never need it, but what happens when an unforeseen accident happens on your property? Commercial property damage can put you out of product, profit and maybe out of business. Insurance adjusters work hard to limit their claims, you need an experienced Commercial Property attorney who will fight to maximize your claim. The Law Firm of Massey & Duffy serves the interests of North Florida business owners who cannot afford to be out of business due to damage to their property. Call our office at (352) 505-8900 to schedule a FREE CONSULTATION today!
In a nationwide survey indicated that approximately 54% of business owners have been affected by cyber-crime. With businesses relying more on automated systems to improve efficiency and competitive services, there is also an increased risk of security breaches and damage to infrastructure and property. Insurance policies have been slow to catch up to the increased risk and occurrence of cyber-crime, it is important that policy holders examine their policy carefully and shop around for coverage that will best serve their unique business needs. Consulting with an attorney before purchasing or renewing a current policy will help business owners negotiate provisions and keep pace with this evolving threat.
With more insurance policies available that cover “all risks” there are more and more exclusions that policy holders need to be aware of. Such exclusions include: wear & tear, factory defects in building materials, improper installation and inadequate maintenance. Often, an insurance company will claim that a claim is exclude for one of the previous reasons, even when it is not. This is especially common with commercial properties that typically are older than residential properties. A Commercial Property attorney may be able to review your case and determine if your claim was denied based on a false claim and file a bad faith lawsuit on your behalf to recover your losses.
- Good News for Florida Policy Holders – An Insured Can Bring a Bad Faith Claim against its Insurance Company after the Issuance of an Appraisal Award
The Second District Court of Appeal has ruled that policy holders do not need to wait until a final judgment has been entered on the insured’s behalf to file a bad faith lawsuit against an insurance company. Hunt v. State Farm, involved an insured’s property that was damaged by a sinkhole. After disagreeing with the insurance offer, Mr. Hunt filed a Civil Remedy Notice and filed a bad faith lawsuit against State Farm. The initial suit was ruled in favor of State Farm, due to the fact that Mr. Hunt had not included a specific amount in his cure notice. However, the SDC reversed that decision, finding that FL Statute 624.155 does not require a specific amount for Mr. Hunt to bring a claim.
Despite claims that insurance companies “are on your side”, it is regularly proven that your adjuster’s objective is to limit the amount their company will pay out for a claim. Insurance agents and adjusters are getting more and more aggressive in denying claims and reducing compensation for property damage liability. The only way to ensure you are being treated fairly is by being represented by a law firm with experience in Commercial Property Damage & Liability claims. Call our office today at (352) 505-8900 to schedule you free initial consultation.