Category: Business Insurance Law

While new technology is expected to solve a number of our problems–from reducing human error to growing the global economy–it is also expected to have a significant effect on corporate liability, commercial litigation, insurance litigation, and product liability claims. As the industry grows in complex technology, companies and insurers need to make sure that they consult the right attorneys so that they ensure that their claims processing is up-to-date because, as cyber risk liabilities increase, so too does liability for manufacturers, suppliers and providers.

Take, for example, liabilities surrounding cyber security and the increasing digitalization of society: liability and litigation is becoming more and more complex and technical, especially as data protection rules become stricter and carry stiffer penalties in response to governments trying to bolster cyber security and protect privacy. An accident no longer involves just two people, but manufacturers, software providers, and other third parties, all requiring that insurance claims handlers and other experts understand specific algorithms involved in order to determine the cause of accidents.

One of the hardest hit areas near Irma’s landfall was Goodland, Florida, where the hurricane not only damaged properties, but permanently “condemned” several businesses, including several local restaurants. As a result, many businesses now have to look for new locations, and some are even collecting donations to rebuild in the community.

While many Floridians have committed themselves to helping some of their favorite establishments reopen by donating funds, many others wonder why these restaurants are facing hard times like these, given that all of them had insurance policies. Isn’t rebuilding as simple as filing an insurance claim?

Many who suffered damages from the recent storms felt that they had done their due diligence by having homeowners or windstorm coverage, as well as flood insurance.

However, having the insurance is just the beginning: filing the claims can turn into a full-time job, as business owners find themselves having to document every single loss and trying to negotiate fair settlements. Trying to do so with the assistance of an insurance attorney can inevitably spell lower payouts and difficulty getting back on your feet again. In addition, many restaurant businesses found that there were thousands of dollars in food costs that were not covered by insurance.