Atlanta Business Interruption Claims Attorney
Georgia business owners procure insurance policies to safeguard their interests against a variety of losses, and one of the most important types is designed to protect them from losses due to business interruption. Circumstances that threaten operations put a company’s financial future in jeopardy and expose the organization’s assets to enormous risk. It’s comforting to know that you can file a business interruption claim to recoup your losses.
Unfortunately, you can run into obstacles when your insurance company doesn’t meet its obligations under the policy. In some cases, the insurer’s conduct may amount to bad faith in violation of Georgia law, providing you with important rights. Our team at Carroll Law Firm LLC can explain your options in more detail, so please contact our office to set up a free consultation with an Atlanta business interruption claims attorney. You might also benefit from reviewing the basic legal concepts.
Coverage in Georgia Business Interruption Claims
This form of insurance provides compensation for the lost income your company suffers because of a disruption in your business operations. Depending on the details of your policy, you may be able to file a claim for:
- Your losses while you’re making repairs or restoring your business after suffering physical damage to property;
- The income you lose when you’re back open after repairs, but business hasn’t yet returned to pre-event levels; and/or,
- Contingent business interruption, which covers lost income you sustain because one of your suppliers, vendors, or customers suffers damage.
A Denial May Amount to Insurance Bad Faith
Because you’re filing a business interruption claim with your own insurance company, with whom you have a contract, you occupy the position of a first party. As such, the insurer is obligated to act in good faith in processing your claim. The company must pay or issue a denial, with reasons indicated, within a reasonable amount of time. Failure to do so may constitute insurance bad faith, triggering Georgia’s statute on remedies for such misconduct. If the company unlawfully rejects your rightful claim or delays payment for business interruption, you may be entitled to recover:
- The amount of your claim, which is usually the lost business income from the date of the event that caused physical damage;
- Damages equal to half your claim or $5,000, whichever is higher; and,
- Legal fees you expend to enforce your rights.
Our attorneys at the Carroll Law Firm LLC strive to get the full amount you deserve based upon the circumstances of your business interruption claim, which may come through settlement negotiations with your insurance company. If the insurer refused to pay a fair, reasonable amount, we’ll take your case to court.
Trust an Atlanta Business Interruption Claims Lawyer to Protect Your Interests
If your company suffered from a disruption and you believe your business interruption claim was wrongfully denied, it’s critical to retain legal counsel to enforce your rights. To learn more about how we can help, please contact the Carroll Law Firm LLC in Atlanta, GA. You can call 404-816-4555 to schedule a complimentary consultation with a member of our team.