Insurance Law and Coverage

Most businesses are wise to insure against the risks they face in their operations and in their dealings with customers. Many forms of insurance coverage are available, but their applications to your business operations can be confusing. Dealing with your insurance agent can help you wade through these issues and arrive at the coverages necessary to protect your business. Yet, problems can arise even when you have done all you can do to secure the right insurance coverage.

Insurance policies are contracts, dense with exclusions and conditions that can work against you. HCFA Lawyers have decades of experience with business insurance issues and the litigation of insurance disputes.

When your business sustains a property loss, it is imperative that you timely notify the insurer of the potential claim. However, you must often do much more than that. You will need to prepare and submit a Proof of Loss. Depending on the circumstances this can be a complicated process, and the forms given by the insurer for this purpose are often inadequate to convey the extent of your loss or the areas of coverage affected. For instance, did the property loss entail business interruption and loss of business income? How do you calculate the value of your lost inventory and what type of valuation does the policy use to arrive at the benefits it offers to pay?

Where lawsuits are brought against your company for a loss that appears to be covered under your insurance, the insurer is supposed to defend and indemnify, (meaning they are to hire attorneys to represent you and they are supposed to pay settlement money or judgments arising from the claim). The insurer may do this quickly, or they may deny that a claim is covered, based on the terms or exclusions in their policy. They may hire a lawyer to defend you but reserve their rights to deny coverage later, when more facts are known. Where the insurer has denied coverage, or is defending under a reservation of rights, you need the assistance of experienced insurance counsel to advise you on your rights and the steps that should be taken to protect them.

HCFA Lawyers have the experience and knowledge of insurance law to be of assistance when claims arise. We encourage you to take steps early in the process and secure a lawyer who will work on your behalf in resolving insurance disputes, whatever that requires. Please call us at 248-247-3300 or contact us online.