Professional Representation for Businesses Interruption in Tennessee
Prompt advocacy to get your company in Nashville, Chattanooga, Memphis, and Jackson on its feet again
When calamity strikes, businesses need to get back to full operation as soon as possible. Time is money. Delay in getting the business operating again after property is damaged, technology fails, inventory is lost, or for any commercial reason – means lost profits. When business is suspended, overhead costs such as insurance premiums, lease payments, staff, pension funding, and other employer obligations still need to be met. Business interruption means more than just lost sales revenue. Business cessation has a lot of serious economic impacts.
The Tennessee business interruption lawyers at Gilbert Russell McWherter Scott Bobbitt PLC represent businesses in Nashville, Chattanooga, Memphis, Jackson, and across Tennessee. We work to get our clients temporary funding so they can get their company up and running as soon as possible. The Firm has the experience and skills to help clients determine the full extent of their business loss. We try cases before judges and juries and are experienced with alternative dispute resolution such as arbitration and mediation. If your business suffered a risk loss, our lawyers are prepared to help you minimize delay and get full value for lost profits.
As an example, in a recent case, the Gilbert Firm obtained a settlement of over $3.9 million for lost business income and extra expenses as a result of a fire for a West Tennessee business.
Common business interruption claims
Our firm works with a broad range of businesses and business experts. When damage to your property or business assets occurs, for any reason, our firm is adept at preparing, analyzing, and processing your claim. Some of the common business interruption issues our Tennessee business interruption attorneys address include:
- Operating expenses. These expenses include lease payments, mortgage payments, and business loan payments, utility bills, cost of goods sold, and other operating and production expenses.
- Salaries and wages. Payment to employees needs to be addressed. The Gilbert Firm works to identify each obligation and the exact expenses involved.
- Continuing expenses. Liability insurance, workers’ compensation insurance, unemployment insurance and other applicable insurances such as auto insurances need to be continued.
- Loss of income. Any business that suffers damage needs time before they can operate. While repairs are being made, replacement equipment is being found, and a new or old location is being made operable, the business owner will be losing money. Service professionals will not be able to treat or see clients. Manufacturers, retailers, wholesalers, and producers will not be able to sell their products. Our Tennessee commercial insurance attorneys prove precisely how much income the business has lost and will continue to lose until it is whole again.
Additional concerns in business interruption cases
The Firm understands that many practical issues need to be addressed and factored into the economic loss claim. Our firm guides companies through some of these issues, which may include:
- The length of the business interruption. A realistic assessment needs to be made.
- Marketing. A strategy has to be developed to inform existing and new clients of the suspension of business activities to minimize business loss.
- Management review. Time and money need to be spent to strategize how to get the business operable again.
- Financial projections. Projections for all financial phases of the company need to be analyzed.
The number of items that need to be reviewed when business operations are interrupted is almost inexhaustible. Our Tennessee business interruption attorneys guide companies through this difficult time by working with experts in your field to address each and every business concern.
Get a proper analysis of business operation loss from a Tennessee attorney—and prompt payment for insurance claims
The Gilbert Firm fights for any business that suffered harm that is covered by an insurance policy. We help residents of Nashville, Chattanooga, Memphis, Jackson, and across Tennessee get prompt payment for their claims. If you are out of state, our highly qualified lawyers may also be able to assist. When you pay your premiums, you deserve to have the insurance company uphold their end of the bargain. To review your case with an experienced Tennessee business interruption lawyer, please call 888.354.FIRM (3476) or complete our contact form.