Sign Louisiana Claim Safe

Document type sign claim louisiana safe

let's face it one way or another code 19 is and will affect us all businesses are restricted from being open and customers are too scared to step outside if you own a business or watch over one you'll likely want to know what insurance coverage you have for damages and losses if there are any concerns with the policy and how to submit a claim for losses your business incurred to date and likely for losses that will continue for some time to come in this video I will discuss three different types of insurance policies your business may have urgent recommendations on process and obstacles to your claim I will also discuss the advantages of having an independent third party perform the investigation and submit the report to your insurer to aid in recovery what you learn in this video you will be able to use straight away so let's go [Music] [Applause] [Music] insurance companies and specifically insurance claims has strict notice requirements there should be a sense of urgency for businesses who are affected to first review their policies I mean do it now see what coverage may be available and review any terms that need to be followed the question I keep getting asked is will my ensure cold again and it's a fair question however the answer is not simple as it depends on the wording of the policy and the facts underlying your claim or loss one thing is for sure there are going to be a lot of claims submitted and one of the best ways to support your claim is to have an independent party audit and quantify your damages and losses and prepare a report to be submitted to your insurer the following are three types of insurance your business or your clients likely have business interruption third party liability and directors and officers liability let's talk about some recommendations business interruption insurance is usually part of your business's first party commercial property insurance typically the policy is where the insurer agrees to pay for the actual loss of business income the business incurred directly relating to the interruption of the insurance operations while the business is being re-established the business interruption policy however assumes that the loss was caused by direct physical Lots damage or destruction to property caused within the definition of the policy this means that physical damage to the business premises is required and the business interruption was the result of physical damage in the case of business interruption from the Cova 19 pandemic it will likely be challenging to demonstrate that there was direct physical loss or damage while reviewing your policy look for claim exclusions such as viruses and disease in addition there may also be issues with proving that Cova 19 caused the losses instead of the loss as being the result of preemptively closing the business due to fear of the virus that said some business interruption policies provide specific protection where the loss was caused by viruses and disease civil authority dictated closure orders or from business loss resulting from damage caused by interruption of supply clearly a business that has these terms defined in their policy will be in a better position given the unusual and widespread nature of the kovat 19 pandemic some insurance under business interruption policies may choose to test the limits of the policy language in court already according to the March 18th 2020 National Law Review a proceeding has been commenced by a restaurant owner in Louisiana seeking a declaration that its insurance policy does not contain an exclusion so viral pandemic the owner says that the policy should cover the restaurant for any future symbol Authority shut down due to physical loss in Cova 19 contamination and should provide business income coverage in the event Cohen 19 contaminates the restaurant the owner argues that contamination of the insurance premises bykova 19 would it be a direct physical laws needing remediation to clean the surfaces of the establishment it's going to likely take some time for this case to make its way through the courts and keep in mind businesses that are considered an essential service but then had employees getting sick and impact their there is a whole different scenario we'll talk about that in a minute we have deep experience in assisting clients with insurance investigations claims and animals we have had great success in acting as the liaison between the insurer and the insured most of the time an insurance policy will have a clause to cover the cost of our investigation further we maintain our independence by not accepting contingency insurance work nor do we take a percentage of the amounts recovered insurers appreciate our independence and we are recognized leaders in the market to find out more about me and the services we offer please visit uncover fraud comp the next type of policy is third-party liability some businesses may face claims by people who have become sick or by the families of people who have died as a result of code 19 for example a store or restaurant that remained opened while the virus was rampant could be sued by a customer for breaching its duty of care by failing to take sufficient steps to protect him or her from the virus a commercial general liability policy will typically cover bodily injury caused by an occurrence for which the insured is legally obligated to pay damages to another injury includes sickness or disease sustained by any person which occurs during the policy period including death at any time resulting therefrom there have been some suggestions in some online commentaries that insurers might rely on the pollution exclusion in the stand of commercial general liability policy to deny coverage if this issue is litigated it will be interesting to see if the definitions of pollution in various policies are broad enough to include a virus the third type of insurance policy I want to talk about is directors and officers liability directors and officers liability also known as dno liability typically cover corporate directors and officers for claims that are made against them for alleged errors misrepresentations and breaches of duty committed in their capacity as directors or officers and for any other matter claimed against them solely by reason of their serving in that capacity or in that role such policies also may include the corporation as an insured where securities claims are made against the corporation these policies may respond in the event class action or derivative action is brought against a public company or its directors and officers as a result of alleged inadequate disclosure of the risks presented by code 19 to their business businesses are encouraged to review their policy wordings in light of what they perceived to be their exposures to losses and liabilities as a result of Coppa 19 where they have suffered loss of business income they should take care to preserve all documentation that would support their claim keep everything one thing is for sure there are going to be a huge wave of insurance claims in the next few months it is imperative for your company to submit a comprehensive clamp the first time if you're unfamiliar with the process or need support our team is available and on standby my name is David Malan it and I am a forensic accounting and fraud investigation expert to find out more about me and the services we offer please visit uncover fraud comm also if this video was helpful please subscribe to my youtube channel the link is below thank you be safe and be healthy and hopefully this will be all over for us as soon as possible