Many businesses carry multiple different types of insurance. These include Commercial General liability (CGL), property damage, flood insurance, business interruption insurance, and workers compensation. You purchase those policies to offset your risk. You have executed an insurance contract with your insurance company, paid premiums, and now expect your insurers to provide coverage when your needs arise. Unfortunately, insurance companies often deny insurance claims. When this occurs, your business is vulnerable because it is facing out-of-pocket expenses and has wasted money on premiums.
Insurance companies, like any other business, and, exist to make money. As a result, insurance companies regularly deny coverage to their insureds to avoid paying claims. When you obtain insurance, your policies come with many benefits. You trust your insurance company to provide you with those benefits when issues arise. Fortunately, Louisiana has statutes specific to insurers that discourage—and even penalize under certain circumstances—the denial of insurance claims.