Commercial Insurance Claims

Chicago Commercial Insurance Claims Attorney

Committed Advocacy for Insurance Recovery

When you enter into an insurance agreement and regularly pay your monthly premiums, you take the proactive step to protect yourself, your business, and your property. These policies are designed to help you weather difficult moments when unforeseen crises arise, but when your insurance company fails to honor its agreement and disburse the financial support you need, you are left in a difficult and vulnerable position.

Insurance policies are legally enforceable agreements, and when an insurance company refuses to honor their obligations and deliver what you are owed, they need to be held accountable. Our team can work to recover from the insurance company the financial benefits you need when your insurance company wrongfully fails to payout. We have over 20 years of insurance dispute experience and never work for insurance companies. Our team has your back in these challenging scenarios and will work hard to recover your insurance proceeds.

Commercial General Liability Insurance in Illinois

Businessowners typically purchase general liability insurance to protect their companies and themselves in case their commercial property is damaged, or if some person is injured on the property or if someone is injured as the result of advertising their products or services. These policies are designed to protect the property through first party coverage and both the business and the businessowner from legal liability by providing a defense to lawsuits and when appropriate compensating an injured person or entity.

Businessowners depend on these policies to provide them with a defense should they face a lawsuit and if necessary, paying out to compensate the injured party(ies). When an insurance company unreasonably refuses to defend, delays payment or fails to pay at all, a businessowner may be forced to retain defense counsel to defend against a lawsuit the insurance company should be paying to defend, or paying a settlement or a judgment that should be paid by the insurance company. Opportunity to cap exposure through a quick settlement to cap the exposure may be squandered. As a result, the business could face financial ruin.

Our Law Firm can help your business navigate disputes involving your commercial general liability insurance. We can ensure that your insurance company is held accountable for its obligations to protect your company from first party property damage or from third party lawsuits and work to recover the proceeds you are owed if your insurance company refuses to honor its obligations. We can also assist when your insurance company refuses to defend you from lawsuits it should be defending.

If you are an individual that was injured on commercial property and the businessowner does not have the means to repay you, you may be able to pursue legal action against the company that is insuring the business. We can assess whether you may be entitled to recover damages and how best to proceed.

Directors & Officers Liability Insurance in Illinois

Senior directors and officers of companies of all sizes – public and private, large and small, for-profit and nonprofit – now regularly carry directors and officers liability insurance to protect themselves from legal action. Any action from leadership is heavily scrutinized by other company leaders, stockholders, and regulators, and even routine transactions like terminating an underperforming employee can result in litigation.

Even frivolous litigation involving directors and officers can result in substantial monetary settlements. Directors and officers liability insurance policies are designed to cover these costs and financially protect executive policyholders, but sometimes an insurance company will unreasonably refuse to pay losses in certain scenarios. We can evaluate your unique situation and determine what options you have in recovering the insurance proceeds you may be entitled to recover.

If you are embroiled in an insurance dispute or bad faith litigation involving an insurance claim, do not hesitate to call (312) 647-2483 or contact us online to discuss your legal options.

Errors & Omissions Liability Insurance in Illinois

Accountants, attorneys, doctors, and other professionals rely on errors and omissions liability insurance to protect them when a client is injured. Insurance companies will sometimes refuse to pay losses incurred by a client, leaving policyholders in an unfair and financially vulnerable position.

These policies are typically claims made and/or reported policies requiring notice of even potential claims or acts or omissions that might give rise to claims to trigger the policy for coverage. Failure to do so in a timely manner may ultimately result in no coverage.

If you are a professional facing a claim arising out of your services or aware of acts or omissions that might give rise to a claim, you will need to act quickly and decisively. Our legal team can work with you to ensure your notice is promptly given and is in compliance with your errors and omissions liability policy. We can help advocate for you in any disputes that may arise between you and your insurance company.

Excess Verdict Cases in Illinois

Don’t let your insurance company squander your opportunity to settle your claim within your policy limits which would cap your risk and avoid excess exposure to you above your policy limits. When your insurance company meets with an injured party on your behalf, they may refuse to accept a fair and reasonable settlement offer that is within the policy limits of your policy. Some insurance companies will do this because they want to avoid paying any amount to the plaintiff. But this could run the risk to you of an excess judgment. Other insurance companies may wrongly view the risk as being minimal because they fail to give the interest of their insured at least equal consideration with their own insurance company interest choosing instead to roll the dice for a chance to receive a defense verdict but this risks personal liability to the insured above the policy limits. When insurance companies doe this, they gamble with your finances because you can be unfairly put on the hook for paying such excess amounts.

You generally have the right to pursue legal action against your insurance company that is acting in bad faith by refusing a reasonable settlement and thereby exposing you to personal liability. Our team can determine if you have a case and help you explore your legal options.

Business Interruption Insurance in Illinois

A tornado, earthquake, or fire can cause physical damage to a facility and equipment, but the overall damage to a business can become exponentially greater if personnel are not able to promptly resume work. When such disasters keep your business from continuing normal operations, business interruption insurance is intended to help bridge the financial gap. Proceeds from a policy can typically cover salaries, utilities, and other ongoing expenses.

Should an insurance company refuse to abide by the terms of a business interruption policy, they threaten your company’s ability to remain solvent and retain its top employees. Our team can help you explore your legal options and recover the insurance proceeds your business needs.

How COVID-19 Impacts First-Party Coverage in Illinois

Many businesses maintain insurance that is intended to cover periods of “business interruption,” or circumstances outside your control that prevent normal business operations. The COVID-19 pandemic has forced numerous industries to shut the doors for extended periods. However, insurance companies have routinely denied these claims related to mandatory government shutdowns.

This issue is still developing, but some interpretations of Illinois law suggest that the emergency pandemic scenario and compulsory shutdowns constitute “civil unrest,” a condition that can trigger first-party claims coverage. It could also potentially be argued that the fear of COVID-19 in the air has damaged a business’s revenue and can thus be classified as “property damage,” another factor that can influence first-party insurance. Our firm will continue to monitor the situation and Illinois case results and advise on what legal options may be available to businesses forced to remain closed.

Automobile Insurance in Illinois

The state of Illinois requires that all motorists carry statutory limits of insurance. Many people choose to invest in more exhaustive insurance policies that go above and beyond the statutory requirements, covering additional damages and/or protections from excess liability. Some drivers will also procure uninsured and underinsured motorist policies that provide an additional financial safety net should they get into an accident with someone that has insufficient insurance to cover the injuries.

When you do get into an automobile accident, you will need to file a prompt claim with your insurance carrier. However, more comprehensive policies can have complex notice requirements that can give the insurance company an excuse to attempt to avoid paying a covered claim.

In other words, if you do not know how to navigate your insurance company’s bureaucracy, they may find a loophole to avoid paying for an accident that would otherwise be covered. If you have recently been in an auto accident and are preparing to file your claim, our team can review the intricacies of your insurance policy to ensure your policy is properly triggered and the negligent driver is held responsible. We can also assist with any arbitration or disputes that may arise in the processing of your claim.

Schedule a free initial consultation with our Chicago commercial insurance claims attorney at the Kenny Law Firm by calling (312) 647-2483 or contacting us online.

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