“Hurricane Lawyers and CPAs: Be Ready for the Storm”
Just because there are only four named hurricanes predicted for the 2016 hurricane season doesn’t mean commercial real estate owners can breathe easy.
David White, an attorney at Thompson & Knight in Dallas, said lawyers should review a client’s policies long before a storm hits to make sure the most likely risks are covered.
“Those risks include physical damage to the property and equipment; business interruption to cover lost profits while the company is getting back to normal operations; contingent business interruption or ‘service interruption’ if the company is shut down because utilities are cut off or crucial suppliers are interrupted,” White said. “Also ‘law and ordinance’ coverage if civil authorities order evacuation or restrict access to the property.”