Forums

Adjuster Estimates

Tags - Popular | FAQ  

PrevPrev Go to previous topic
NextNext Go to next topic
Last Post 03/18/2010 9:39 PM by  TXAD
out of business
 2 Replies
Sort:
You are not authorized to post a reply.
Author Messages
skippie02
Guest
Guest
Posts:1


--
03/10/2010 3:53 PM

    My question is, If a business had water damage, but unfortunately  closed down 5 months later. (A claim was filed ) However, nothing has been resolved.Is the claim still valid. Or since the business has closed down the insurance company can deny the claim.

    Medulus
    Moderator
    Veteran Member
    Veteran Member
    Posts:786


    --
    03/10/2010 6:44 PM
    The claim is still considered under these circumstances. Late reporting could be a problem if the claim was not reported for five months. However, a claim does not end because a business fails.
    Steve Ebner CPCU AIC AMIM

    "With great power comes great responsibility." (Stanley Martin Lieber, Amazing Fantasy # 15 August 1962)
    TXAD
    Guest
    Guest
    Posts:36


    --
    03/18/2010 9:39 PM

    I would imagine that, if the claim was filed before the business closed, then the owner would be entitled to that settlement anyway, since the policy was in force at the time of the damage, (if that is the case).  That business owner still encurred the loss, which may or may not, have contributed to the closing.

    You are not authorized to post a reply.


    These Forums are dedicated to discussion of Claims Adjusting.

    For the benefit of the community and to protect the integrity of the ecosystem, please observe the following posting guidelines: 
    • No Advertising. 
    • No vendor trolling / poaching. If someone posts about a vendor issue, allow the vendor or others to respond. Any post that looks like trolling / poaching will be removed.
    • No Flaming or Trolling.
    • No Profanity, Racism, or Prejudice.
    • Terms of Use Apply

      Site Moderators have the final word on approving / removing a thread or post or comment.