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Navigating COVID-19 Business Interruption Loss Insurance Claims
5/14/20 at 1pm CST

Learn about policy virus exclusions, civil authority coverage, how to prepare a business income loss claim, case law and much more!

Get the expert advice you need to know!

 

We’re happy to help Amistad Bank after the April 11th hail storms. These kinds of storms can cause massive damages to businesses.

A severe thunderstorm with strong wind gusts and softball size hail hammered Del Rio, TX the night of April 11th, causing extensive damage to vehicles, roofs, and windows.

Neighbors throughout the city reported large hailstones, ranging from quarter size to golf ball and even softball size in their properties.

A severe thunderstorm warning issued by the National Weather Service alerted residents of Kinney County, Val Verde County and South Central Texas area of the storm, encouraging everyone to seek shelter immediately.

At 8:30 p.m the storm was located 12 miles east of Del Rio, moving east at 25 mph.

The storm carried a potential of 60-mile an hour wind gusts, the National Weather Service warning said.

After a hailstorm like this, it’s important to take steps to file a successful insurance claim:

  • Check your property for any potential hail and wind damage.
    • Damage to trees, landscaping, and vehicle dents for collateral damage.
    • Broken windows or siding.
    • Dents in gutters, downspouts, and air conditioning units.
    • Missing shingles, indentations in roof materials.
  • Take pictures of all damages.
  • Contact your insurer or insurance agent and put them on notice you intend to file a hail insurance claim.
  • YOU MUST MITIGATE DAMAGES as soon as reasonably possible.
  • Keep records of mitigation and clean up expenses.
  • Contact ICRS for a complimentary hail report that provides hailstone size at your location, policy review, and building inspection.

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Topics Include:
• Should you file a business interruption insurance claim now?
• What options do Policyholders have to get claims settled?
• How to make a strong argument for business interruption coverage.
• How does a virus exclusion endorsement potentially affect civil authority coverage for business income losses?
• Review of Physical loss or damage policy language.
• Leading question “gotchas” from your insurance company
• Definition & importance of “civil orders”
• Elements of a business loss claim

Shannon Loyd
Attorney
The Loyd Law Firm, P.L.L.C
Scott Friedson
Public Insurance Adjuster
Insurance Claim Recovery
Support
Bruce Smith, CPA/CFF, CFE
BDS
Forensic Accounting


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