Commercial enterprises doing business in Texas and surrounding states are beginning their recovery from recent power outages and associated water damage. Many face significant property losses, often accompanied by business income losses due to a complete cessation of business activities. Many business owners had the foresight to purchase business interruption insurance; however, the complexity of a business interruption claim, coupled with demands on operating capital, creates a difficult scenario for business owners. Jones Walker is ready to assist clients in navigating this process, and we offer the following “golden rules” to provide some guidance in the preparation of business interruption insurance claims.

Report the claim immediately. The commercial property insurance policy will have specific claim reporting requirements. Although some of these policies include a telephone number, report the claim in writing. If you have an insurance broker that obtained the coverage for you, get them involved in the initial reporting process and have them use any influence they have with the insurer to begin the initial evaluation of the claim as soon as possible. Continue reading >