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Words Of Wisdom

Don’t get stuck underwater…

On August 29, 2005, when Hurricane Katrina (“Katrina”) struck New Orleans, a Urology Clinic in New Orleans. The Clinic leased their office in a Medical Center. The clinic began to treat a few patients beginning on January 5, 2006. However, the Clinic remained officially closed until January 23, 2006, when the fire marshall certified that…

“The insurance company paid out $187,846 for the business interruption…”

…the fire alarm systems were operable and the area’s clinic could be opened to resume servicing the general public.

The Clinic filed a claim on its Commercial General Liability Policy (“Policy”) containing business interruption insurance with Lafayette Insurance Company (“Lafayette”), on or about October 20,2005. The insurance company paid out $187,846 for the business interruption, to pay fixed and variable expenses, until the clinic officially re-opened for business.