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Following a disaster, severe weather event, or pandemic (such as COVID-19), owners and operators of special purpose properties such as stadiums, concert halls, convention centers, and banquet halls potentially face large financial losses. Not only are there extensive repairs that must be made, but also any disruption to your facility’s operations can be financially devastating.
Special events such as sporting events, concerts, weddings, and conventions are planned and scheduled months or even years in advance—making it difficult, if not impossible, for your business or your client to simply reschedule. Even after a disaster, customers and vendors expect your facility to be fully operational in a timely manner. Any extended closure or shutdown of your facility can be detrimental to your business and harm relations with important vendors and clients.
Recovering After the Unexpected Occurs
After a severe weather event, plumbing failure, fire, or explosion, your special purpose property may have to deal with:
- Loss of revenue from event bookings
- Transfer of equipment to a new location
- Unusable seating areas
- Costs of relocating already scheduled events to another venue
- Reconstructing parts of the property
- Water and mold damage
- Structural and mechanical issues
- Cleaning up and clearing out debris
While, as the owner or operator of a special purpose facility, you are most concerned with getting your property up and running again, your commercial property insurer may be disputing, delaying, or denying your business’s valid claim for damages.
When your commercial property insurer engages in bad faith practices on your business’s claim, an attorney can help your business seek a full and fair damage valuation and recovery. If your business has been forced to suspend its operations due to property damage, this may also entitle your special purpose operation to recover business interruption damages.
Contact a Property Damage Lawyer for Help With Your Business’ Claim
If you need a special purpose property damage lawyer because your property has suffered severe property damage, contact an attorney with Raizner Slania today for a no-fee evaluation of your business’s property and/or business interruption claim.