Navigating Business Insurance Coverage in the Aftermath of Texas Power Crisis and Winter Storm
Given the onslaught of insurance claims to come from storm Uri, insureds are wise to be proactive, understand their coverage, and promptly make claims in order to preserve their rights to recovery, say Leslie C. Thorne, a partner and co-chair of the litigation practice group at Haynes and Boone, and Wes Dutton, an associate at the Dallas office of Haynes and Boone.
March 18, 2021 at 07:09 PM
7 minute read
As Texas thaws in the wake of winter storm Uri's polar winds, insurers throughout the state are steeling themselves for an avalanche of claims from across the spectrum of insurable losses. According to some estimates, the storm caused upwards of $90 billion dollars in losses in Texas—of which $18-20 billion are likely insured. Not only are many households and businesses making claims for property damage caused directly by the deep freeze—burst pipes, spoiled produce, collapsed roofs, damaged equipment, lost livestock, auto collisions, business interruption, etc.—but a recent flurry of storm-related lawsuits and government investigations indicates that some commercial insureds may have substantial third-party claims under their liability policies.
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