Mississippi Insurance Dispute Attorneys Obtaining Full Payment for Business Interruption Claims
Helping Mississippi entrepreneurs get back to business
If your business was interrupted for a period of time after incurring property damage, you are bound to lose substantial revenue. Your company cannot operate at full capacity or may not be able to operate at all. Loss of business income and extra expenses insurance coverages compensate companies for the income they have lost while their business is disrupted due to fire, wind, theft, or other covered events. Even if you did not have to fully close but were impacted by an electrical power outage or other event, you could be entitled to coverage from your insurance company.
However, even if you have business interruption insurance, you may face pushback from your insurer. They may undervalue your claim, delay payment, or unreasonably deny a valid claim. Many times, the process of submitting the claim is overwhelming due to the constant barrage of requests for information and documentation and questioning by forensic accountants hired by the insurance company. McWherter Scott Bobbitt offers assistance in business interruption disputes. Mississippi business insurance dispute lawyer Brandon McWherter is your advocate when the insurance you have paid for is not offering the coverage you need and were promised.
Learn more about business interruption claims
No two business interruption claims will be the same. A well-rounded policy will include reimbursement for loss of income, payroll expenses, and extra expenses incurred after a covered loss. The goal is to put you back in the position you would have been had no loss occurred.
This type of insurance only offers compensation for “covered” events. So, if you do not have a policy that covers flood damage and there is a flood at your property, you cannot file a business interruption claim for the income you lost during repairs.
Handling a business interruption claim
When dealing with an insurance claim, the first task is to examine the policy. We look at the coverage your policy provides, searching for:
- Loss of business income. Compensation for income lost during a period of restoration to replace or repair damage to the company’s property.
- Extended business interruption. Compensation for income lost after property is restored/replaced but before the income returns to its pre-loss levels.
- Contingent business interruption. Compensation for lost income due to damage or disruption of providers or suppliers to the business Contingent business interruptions may cover disastrous events that occurred off-site.
Representation from an attorney helps ensure you receive prompt, full payment from your insurer. We work with experts who review your financials to determine all your projected profit and revenue losses. We help calculate all the expenses you incurred during your time of closure — rent or mortgage, salary and payroll costs, tax expenses, and all other costs associated with running your business. When you choose us, you work with a Mississippi business insurance dispute attorney who will pursue your insurance company to the full extent of the law so you receive full and fair compensation.