One year after Superstorm Sandy, this is the ideal time for regional businesses to re-evaluate their insurance policies to determine the adequacy of coverage in the case of similar future events. There are also certain best practices that insureds can implement to bolster any future insurance policy claims. In this article, Partner James M. Burns and Conlee Whiteley of the New Orleans law firm Kanner & Whiteley explain the importance of such annual reviews and suggest best practices to enable businesses, homeowner associations and other entities to adequately plan for the future.
Genova Burns and Kanner & Whiteley have joined together to provide representation to businesses in the region affected by Sandy. Mr. Burns and Ms. Whiteley have written several articles of interest to affected New Jersey property owners and homeowner associations. This article from the Mid Atlantic Real Estate Journal outlines important deadlines for placing the insurance carrier on notice of a claim and/or instituting a lawsuit after denial of coverage. Policyholders who fail to comply with these deadlines risk losing their rights to recover from losses. The authors also recently published an article in AIM magazine, the publication for the New Jersey Apartment Association, which discusses how building owners might be overlooking potential wind damage insurance recoveries. The article outlines steps to analyze large commercial insurance wind claims.