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Compensation in the Aftermath of a Disaster

Posted on Sep 12, 2013 by in Insurance Bad Faith, Insurance Claims | 0 comments

Though the landlocked terrain of Oklahoma is safe from the devastating effects of hurricanes and tropical storms, the “Sooner State” is often the target of intense tornadoes and hail storms. Many Oklahoma residents pay into comprehensive property insurance plans to protect their belongings from potential damage. When a serious storm, like the 2013 Moore tornado, occurs, a large economical strain is put on insurance companies and policyholders, alike. If a storm has caused extensive damage to a policyholder’s house, the policyholder usually can’t rebuild or renovate without the insurance money.

In the aftermath of a traumatic storm, there’s a sense of urgency, within affected communities, to recalibrate and return to normal. For this reason, policyholders will often consult a lawyer when attempting to collect insurance money. Legal help and knowledge can shorten the waiting period for insurance money.

The Gulf Coast faces a completely separate set of difficulties regarding resources and local disasters. Typically the site of hurricanes, the Gulf Coast’s economy suffered unexpectedly in 2010 when a British Petroleum (BP) oil well exploded and proceeded to spill 4.9 million barrels of oil into the gulf. BP agreed to compensate the victims of the oil spill. According to the website of Williams Kherkher, many victims filing claims with the Deepwater Horizon Claims Center are being denied the appropriate compensation. The generous denial of insurance claims renders legal representation almost essential as victims affected by the oil spill seek compensation for damages to their residences and livelihoods.

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