What does a Condo Association do when a severe storm destroys property? What if the storm caused more than $6 million in business interruption losses? Does the Association have the ability to keep their business online? What if they are stuck in an interminable claims process with the insurance company? This scenario happened to one of Corless Barfield Trial Group’s clients, and we are suing the insurance company for significant business interruption loss and bad faith damages.  

For many commercial property owners, Hurricane Matthew in 2016 was a game-changing storm that caused significant interruption of their operations. Specifically, many Condo Associations that own units, which are rented out to the public, had trouble getting back online and staying financially sound. Unfortunately, many insurers slow rolled their claims evaluations, and took too long to assess the damages and provide indemnity payments for repairs. Then, a year later, enter Hurricane Irma, which struck many of the same properties that were more vulnerable to the impact of wind and water. Had insurers acted timely and fairly from the start, policyholders would have been able to recover sooner and suffered less in the interruption of their businesses.

Business Interruption Loss – Defined

The lifeblood of every business is generating revenue, and getting your property back up after a natural disaster strikes. This requires skilled legal counsel who understand business interruption insurance and the insurance industry. Corless Barfield Trial Group is recognized as a leader in handling sophisticated Large Loss insurance claims and business interruption insurance matters.

We have dedicated our law practice to helping Property Owners, HOAs, Condo Associations, Community Management Associations, and Licensed Community Association Managers maximize their recoveries when business interruption losses occur.

A business interruption loss claim requires an extensive analysis of business and financial records. Our attorneys have an advanced understanding of how insurance companies handle these complex claims, and we work closely with financial professionals and forensic accountants.

Business Interruption Insurance – Policy Limits vs. Bad Faith Damages

Business interruption cases involve protecting a policyholder against financial losses due to a business interruption. Business interruption insurance policies generally provide coverage for lost income and related costs in the event that one’s business is unable to operate. Almost all coverage for business interruption loss is limited in the amount recoverable by insureds. But what if the delays associated with Hurricane Matthew, for example, took much longer than they should have, significantly worsening the delay?

Business interruption coverage may replace your lost revenues and cover extra expenses associated with temporarily relocating your business during repairs. If there is a covered business interruption loss, this type of coverage will compensate the insured for ongoing operating expenses, lost income, costs associated with repair, and any other additional costs that result from bringing back normal business activities.

For damages arising from long delays caused by the failure of the insurance company to properly assess and cover the damages, insureds are not limited to obtaining just the amount of business interruption coverage, but can seek “bad faith” damages, under Florida Statute Section 624.155.

In some cases involving CBTG clients, insurers would assess the damages as being under the deductible, only to lose at appraisal for multiples of what their original assessment was at the time of the loss. For example, one multi-unit Condo Association was told by their insurer the damages were $225,000, which was less than their $500,000 deductible. After going through appraisal, the Appraisal Panel awarded $3,600,000, or more than 13.5 times the amount estimated by the insurer. In that case, the additional loss of revenue from the business interruption became part of the damages sought in the subsequent bad faith lawsuit.

Corless Barfield Trial Group are policyholder advocate lawyers. Hiring our skilled Florida insurance dispute lawyers means demanding compensation for all aspects of one’s business that are affected by property damage. If your insurance company is giving you a hard time about coverage for your property damage, call us at 813-258-4998.

The cause of the Sept. 2 fire, which killed 34 people, is now the subject of an intensive investigation by the National Transportation Safety Board, the U.S. Coast Guard, and other federal and county agencies.  A preliminary investigation has suggested serious safety deficiencies aboard the vessel.

Fire damage to your home, boat or business can be sudden and devastating.  If you have suffered smoke or fire damage and your insurance company seeks to deny, delay or underpay your valid claim, we encourage you to contact the experienced insurance lawyers at Corless Barfield Trial Group at 813-258-4998. 

Fire damage is a hot topic in the news.  A jury in Oakland, Calif., recently found one man not guilty of 36 counts of involuntary manslaughter in the 2016 fire at Oakland’s Ghost Ship warehouse but could not reach a verdict for the building’s leaseholder.  It was one of the deadliest nightclub fires in U.S. history, killing 36 people. 

The Ghost Ship fire tore through a late-night party in Oakland’s Fruitvale neighborhood that had been transformed into a ramshackle artist collective known as Ghost Ship.  The jury’s verdict begs the question, what is the duty owed to the public to protect from a fire?

Whether your home or business was completely destroyed by a fire or only partially damaged, your insurance company will attempt to delay, deny or underpay your property damage claim.

Homeowners and business owners should bring in a policyholder attorney to help prove the worth of their fire claims and protect their rights. Insurance companies rarely contemplate the hidden effects of a fire in your home or business when they consider your compensation package and initial settlement offer.

Besides the structural damage, fires can also damage heating and cooling systems, plumbing, and concrete or steel building materials.  Additionally, there is the costly damage caused by smoke, soot, and the water used to fight the fire. 

The Florida-based attorneys at Corless Barfield Trial Group will investigate your case, and consult with our team of insurance and engineering experts, to determine the full value of your claim.

We will fight for you in court to obtain the money that you deserve from the insurance company to which you have dutifully paid your insurance premiums.

The policyholder attorneys at Corless Barfield Trial Group have years of experience working with homeowners and business owners throughout Florida who have been treated unfairly by their insurance companies, and we would be happy to help you.  Contact us at 813-258-4998 for a free consultation.

Insurance companies do not make their enormous profits by paying what they owe but rather denying what they owe. Therefore it is necessary anytime you have property damage you have counsel fighting for your rights. Whether you own a single family home, or you happen to be on the Board of a community managed association, if the insurance company is giving you a hard time about insurance coverage for your property damage claim, call us at 813-258-4998 to help you get the claim resolved.

Here are a few inconvenient truths all property owners – whether you are a commercial/business owner, a member of a Board of Directors for your condo, or a homeowner – should know:

1. Insurance companies are more focused on their bottom line rather than covering the costs of your property damage as they save the less they pay.
2. You paid your insurance premiums, so you deserve fair compensation for property damage incurred through no fault of your own but oftentimes that isn’t the way adjusters and insurance companies see it.
3. Insurance companies deny compensation for property damage that should have been covered by your policy.
4. Insurance adjusters have one primary objective – minimize the monies paid to policyholders on behalf of their employers.
5. The insurance company is going to give you the “lowball” offer to repair or replace your property damage, and usually that compensation won’t be enough to fix the damage.
6. Without help from a qualified property damage lawyer, you are often at the mercy of your agent, who may deny all or part of your claim.

While the above situations are common, there is a way to fight back. Corless Barfield Trial Group is a tested trial team of Florida Property Damage Attorneys well-versed in the tactics used by insurance companies to limit their own liability. We will aggressively fight to maximize your insurance coverage. As a policyholder, you are entitled to a full and fair investigation of your loss, and you deserve to obtain all appropriate coverage for your claim.

Our team of litigators specialize in advocating for property owner rights. If you want to hear what others say about our experience, just ask Google. Our team of seasoned, expert litigators focuses on getting you the means by which to rebuild your home or business.

In Florida, property insurance disputes include hurricane damage, storm damage, high winds, sinkholes, catastrophic ground cover collapse, fire loss, and water damage. As damages can cost thousands to hundreds of millions of dollars, you need a property damage litigator who can fight back and win.

Corless Barfield Trial Group has handled hundreds of property damage cases and collected hundreds of millions of dollars for insureds, and are familiar with the devious maneuvers used by insurance companies to protect their own bottom line. You don’t have to do battle with your insurance company alone.

Don’t let your insurance company force you into paying for something they are legally required to cover. We take your claim with the objective of getting it paid, or making the insurer test their meddle in front of a jury.

The Florida Property Damage Attorneys from Corless Barfield Trial Group will help you maximize your insurance claim and coverage. Corless Barfield Trial Group is located in Tampa, Florida and serves clients throughout the state of Florida. For a free consultation, call us at 813-258-4998.