In the wake of Harvey, Irma, Jose and Maria, the 2017 hurricane season is turning out to be one of the most catastrophic on record.
To maximize insurance recoveries, businesses that have suffered property damage and business income loss will need both to act quickly and exercise long-term persistence. Key steps are outlined below:
|Mind your deadlines
Almost all types of insurance policies require prompt notice of loss, and strict compliance with this condition to coverage can be critical. At this early juncture, however, policyholders should be cautious in providing any specifics concerning the cause of loss until the policy has been reviewed and all facts have been obtained. The cause of loss, in the immediate aftermath of a storm, can simply be listed as the storm itself or “the effects of” the storm.
Related: 3 challenges with property claims
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