There are reports across the country of business insurance carriers offering unfair claim payouts or even denying claims during the fall out from Covid-19.
Do you feel like your insurance carrier is offering an unfair claim payout? This is, unfortunately, being reported nationwide. Some court systems are not currently accepting new filings and all are operating at substantially reduced schedules and expecting severe backlogs once reopened. That results in limited options for civil cases in the foreseeable future. Because of this, some insurance carriers are seeing that businesses feel they have little recourse to dispute while also facing economic hardships that would make them accept lower payouts to get the cash in hand sooner.
If you feel your insurance carrier is either denying a clearly covered claim or under valuing it, there are several actions you can take:
1) Seek legal counsel
2) Send your agent and carrier the policy language indicating coverage and advise that you intend to report them to their DOI as a complaint
3) Call RateCraft – as a complimentary service during Covid-19, we can evaluate if the dispute is warranted and leverage our expertise in these areas to go through option two on your behalf
Learn How to Cut Costs While Maintaining The Business Insurance You Need. Download Our Covid-19 Tool Kit Now.
Additionally, in an effort to further support businesses during this challenging time, RateCraft is offering all new clients through the end of the year three-months deferred payments so they can further extend immediate cost savings as they look to rebuild. Let’s get started now.