This article was contributed by Natalie Addy, a fraud and forensic accountant at Adam Shay CPA, PLLC.
The latest storm has come and gone, and home and business owners are left dealing with the aftermath. Sorting through the damage and trying to understand your insurance coverage can be overwhelming. Some people are surprised to find that they do not have flood insurance — this is coverage that you have to purchase in addition to your hazard and/or wind and hail coverage. Business owners often don’t know if they have business interruption insurance.
Business interruption insurance provides income to business owners to cover lost revenue when a business is shut down due to specific events. Depending upon your policy, there are often several ways to calculate such a loss and the way the insurance company calculates it may not be optimal for the policy holder.
If you had physical property damage then you’re left trying to figure out what to do next to make sure your property gets repaired. Protect yourself from repair fraud by following these guidelines:
Tech Wilmington: Upcoming Events Calendar
Staff Reports
-
Feb 5, 2025
|
|
Vantaca Hires Four Executives With Decades Of Scale-up Experience
Staff Reports
-
Feb 4, 2025
|
|
NCino Appoints New CEO
Staff Reports
-
Feb 3, 2025
|
|
City Leaders Approve Special Use Permit For Midtown Pickleball Facility
Emma Dill
-
Feb 5, 2025
|
|
Workforce Housing Panel: Some Steps Taken, But Problem Getting Worse
Emma Dill
-
Feb 4, 2025
|
For years, officials have eyed the land outside of the airport’s operations to attract businesses and economic development....
The rapid pace of technological development combined with a stream of regulations and requirements from the federal government has been stre...
For the Book on Business, the Business Journal asks several of the region’s economic development groups and organizations for a recap of wha...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.