An owner or operator of industrial and manufacturing property may quickly face significant financial losses when disaster strikes. Extensive repairs to the property must be made. Damage may interrupt the industrial and manufacturing property’s work process, capacity, or sales. Damage to the facility may result in the destruction of inventory. In short, disruption and damages soon accumulate as the owner or operator seeks to file a commercial property damage claim.
The top priority during or after a hurricane, tornado, flood, fire, earthquake, hail storm, windstorm, or other disaster is protecting inventory and equipment. The industrial and manufacturing facility may have orders to fill. The owner or operator must distribute or deliver customers’ orders and appropriately manage expectations, regardless of the circumstances. Any delay or closure of product lines and shipments may permanently damage relations with customers.
An explosion or severe weather event requires the owner, operator, and staff to deal with myriad issues, such as:
A business owner or plant operator is certainly most focused on getting the industrial and manufacturing facility running again. You want to get processes back online.
When an insurance company to whom you’ve paid premium income over the years fails to provide its legal duty to promptly acknowledge, investigate, and pay your valid claims, the bottom line of your business may suffer. Your employees, vendors, and customers will surely suffer as well.
A bad faith insurance company’s decision to dispute, delay, underpay or deny your valid claim for property and casualty damages can be overwhelming. Disputing the bad faith insurer’s decisions can be exhausting.
We are familiar with the strategies and obfuscatory methods used by bad faith insurers.
If your manufacturing and industrial facility has been forced to suspend or interrupt its production or processes because of a bad faith insurance company’s response to your valid insurance claim, your business may be entitled to business interruption damages recovery.
The Mindiola Law Firm’s commercial property lawyers have supported the needs of operators, owners, or tenants of most types of industrial and manufacturing facilities, including:
After disaster strikes, it is up to the industrial or manufacturing facility to repair the damage and get back to work. It’s imprudent to wait any amount of time for the insurer to settle the claim before your business mitigates its losses.
However, some damage claims may be so extensive that business interruption occurs. It may be necessary to close the manufacturing or industrial facility to implement repairs.
The length of time it takes the insurer to 1) acknowledge its receipt of your claim in writing, 2) send an insurance adjuster to investigate the damage, and 3) pay your valid claim can have a devastating financial impact. Staff morale, customer loyalty, and sales may also take a nosedive as you rebuild the facility.
Consider the present value of your damage claim. Time is money.
If your industrial and manufacturing plant has sustained significant property damage and your property insurance carrier isn’t providing the legal duty it owes after you submit valid claims, contact Mindiola Law Firm in Houston for a complimentary evaluation of your business interruption or property damage claim at .