Hurricane Maria

Hurricane Maria made landfall on Puerto Rico on September 20, 2017. The storm was one of the worst Atlantic Hurricanes to ever rip through Puerto Rico. By the time Hurricane Maria made landfall, the storm was a high-end Category 4 Hurricane with maximum sustained winds of 175 miles per hour.

Get Help With Your Hurricane Maria Insurance Claim

Natural disasters like Hurricane Maria only mean one thing to insurance companies: large payouts. In addition to physical damage to buildings, businesses also suffer lost revenue for the duration they are closed. Because Hurricane Maria destroyed Puerto Rico’s electrical grid, downed most communication systems, and damaged many of the island’s highways, businesses were unable to rebuild and reopen for many months – some still remain inoperable today. The losses from business interruption could be in the millions for insurance companies on top of millions in property damage to the buildings themselves. Insurance companies will do everything in their power to delay and limit claim payouts. Many insurance companies are delaying, underpaying, and outright denying Hurricane Maria claims to avoid paying out. Policyholders who regularly pay their premiums deserve full protection under their insurance policies. We’re helping Puerto Rico businesses, real estate investors and condominium assemblies get back on their feet and get what they are rightly owed under their insurance policies.

The Problem With Insurance In Puerto Rico

Thinly capitalized domestic insurers who ceded almost all of their risk to European reinsurance companies dominate the insurance market in Puerto Rico. Although the risk has been ceded to foreign reinsurers, it is still the obligation of the primary insurance company to inspect properties and handle claims. Unfortunately, many of these primary insurers either lack the resources and expertise to handle Hurricane Maria claims, or have simply chosen not to honor their obligations under the insurance contract.  Thousands of claims are not being processed or handled correctly. Many reinsurers do not have an obligation to pay out on claims until the primary insurance company completes its investigation; and, this has left Puerto Rican business owners without any way to pay for needed repairs.

Commissioner of Insurance Issues Millions of Dollars in Fines

Puerto Rico’s Commissioner of Insurance, Javier Rivera, has issued thousands of violation orders to many different insurers for failing to handle claims promptly and fairly. In Puerto Rico, policyholders that do not agree with an insurance company’s determination of their claim can request an investigation by the Commissioner of Insurance. While most claims have yet to be resolved, the concluded claims have been resolved unfairly for policyholders. Investigations by the Commissioner of Insurance have shown a widespread issue of unfair dealings on behalf of the insurance companies.

In response to slow actions and bad faith insurance denials, the Commissioner of Insurance has issued millions of dollars in fines to insurers for unnecessarily delaying processing Hurricane Maria claims and for acting in bad faith.

About Raizner Law

Jeff Raizner is an experienced trial lawyer and negotiator. Jeff has been recognized for his continued success in representing clients in claims against major insurers for both commercial and residential losses. Jeff filed a class action lawsuit on behalf of flood victims from the Addicks and Barker Reservoir releases by the U.S. Army Corps of Engineers in the aftermath of Hurricane Harvey. Jeff has been selected by courts and his co-counsel to serve on a number of steering committees established to manage and guide litigation involving insurance and other disputes, and is a recognized leader nationwide in complex commercial property insurance litigation.

Experienced Insurance Lawyers

Raizner Law Firm is proud to help Hurricane Maria victims get on the road to recovery. If your insurance company has delayed, underpaid, or denied your Hurricane Maria claim, contact us today for a free consultation to discuss your legal options. All of our work on Hurricane Maria claims is being handled in close conjunction with prominent, Puerto Rico licensed attorneys.