Responding to Hurricane Harvey

08/29/2017  - IMA Corp, Inc. News

IMA strongly recommends you wait until the area is declared safe by the local authorities before returning to your business location. Recovering from a natural disaster is a gradual process. IMA is here to assist you with that process and the return of your company to business as usual.

8.30.17 UPDATE --- Per the National Hurricane Center, Tropical Storm Harvey is moving towards the north-northeast and is expected to continue through Thursday. A turn toward the northeast is expected Thursday night and Friday. Harvey is weakening as it moves farther inland. Harvey is expected to produce additional rainfall accumulations of 3 to 6 inches from southwestern Louisiana and the adjacent border of eastern Texas northeastward into western Tennessee and Kentucky through Friday with isolated amounts up to 10 inches.

The threat of heavy rains has ended in the Houston/Galveston area. However catastrophic and life threatening flooding will continue in and around Houston, Beaumont/Port Arthur, eastward into southwest Louisiana for the rest of the week. The expected heavy rains spreading northeastward from Louisiana into western Kentucky may also lead to flash flooding and increased river and small stream flooding.

 

Following your Property Loss:

  • Do not access the property until the water has receded and local authorities have deemed the area safe to enter
  • Check the flooded buildings for structural stability before entering
  • Survey for safety hazards such as live wires, leaking gas or flammable liquids

 

Tips to safeguard your property:

  • Board up the premises
  • Repair dangerous conditions
  • Make repairs to avoid further damage and to get your business up and running
  • Separate damaged property from undamaged property. Do not discard damaged property if possible
  • Save evacuation notices from local authorities
  • Document all damage by taking photographs
  • Arrange for a water restoration company/contractor to start the restoration process to prevent further damage and to assist in post-loss repairs
  • If names of restoration firms are needed, our IMA claims team will provide names of available restoration firms
  • If you engage a vendor/contractor for mitigation purposes, keep all receipts, contracts and documentation for the claims adjuster to review
  • Check, clean and test all electrical distribution equipment and system components exposed to flood water or humidity or hire a contractor to complete the survey
  • Contact your insurance carrier directly or contact IMA

 

Document your loss:

  • Invoices for any mitigation efforts, including temporary repairs made to secure the property from additional loss
  • Repair estimates
  • Damage to inventory or equipment
  • Employee time for cleanup and mitigation efforts
  • Cleanup costs

Your IMA claims team will ensure proper communication with you throughout this difficult process. Natural disasters often extend the claims process, however we are prepared to assist you in getting back up and running as quickly as possible.

 

If you have a business interruption claim, you may be asked to provide the following items:

  • Payroll
  • Profit and Loss statements
  • Inventory
  • Extra expense documentation necessary to continue operations

Business interruption coverage is intended to compensate your company for the income lost during the period of restoration or the time necessary to repair or restore the physical damage to your covered property. Your insurance carrier should be working with you to ensure you receive the lost profit you would have otherwise earned had the loss not occurred.

Most business interruption claims will have a separate deductible from the damage to covered property. This usually involves a time element, rather than a monetary amount. i.e. a 24, 48, or 72 hour waiting period.

Coverage for a loss is dependent on many factors, including cause of loss, exclusions, endorsements, limits, deductibles and specific facts of loss. IMA will advocate for the broadest possible coverage to maximize your overall recovery. Should there be any disputes, IMA will also assist you in working with the insurance company to re-evaluate its position. Should you have any questions, please contact your IMA Claims Advocate or your Account Executive. You can also contact: