Cox Padmore Skolnik & Shakarchy LLP | Innovative Solutions for Business

Call Us At 800-209-7206 Today

Cox Padmore Skolnik & Shakarchy LLP | Innovative Solutions for Business

800-209-7206

Leading-Edge Legal Representation

From Coverage Disputes To Insurance Planning, CPS&S Is Ready To Protect Your Interests

At Cox Padmore Skolnik & Shakarchy LLP, our attorneys are familiar with the risks that businesses face. We also understand the commercial insurance policies that are designed to protect your investment against those risks.

From our main offices in Manhattan as well as locations in Denver and New Jersey, our lawyers represent corporations and self-insured entities in a wide variety of insurance matters, from anticipating insurance needs to resolving complicated coverage disputes arising from claims made on both first- and third-party insurance policies. Contact us today by calling 800-209-7206 or 800-209-7206 toll-free to learn more about how our experienced attorneys can help you meet your challenges.

Understanding Your Business Insurance Needs

Consistent with the firm’s philosophy of early intervention to minimize risk, our business insurance lawyers will help you anticipate your insurance needs so that you are properly covered in all situations. We will also advise you on issues arising from the application and interpretation of insurance policies to ensure the best possible outcome.

The following are examples of the types of insurance issues our attorneys handle:

  • General liability coverage: We address disputes over general liability policies, helping ensure businesses are protected from claims involving bodily injury, property damage or advertising issues.
  • Disputes regarding coverage: Since coverage disputes can delay critical financial protection, we analyze policy terms and advocate for your rightful benefits, resolving conflicts efficiently.
  • Real estate-related insurance disputes: Insurance issues, such as title or property damage claims, require precise handling that our firm does effectively.
  • Construction-related insurance disputes: Construction projects often face insurance conflicts over defects or delays.
  • Property insurance: We review property damage claims policies thoroughly to help ensure your coverage is honored, minimizing losses from fire, theft or natural disasters.
  • Claims due to business interruptions: We pursue claims to recover losses, helping ensure your business receives due compensation.
  • Professional liability policy issues: We defend against claims and secure coverage for alleged errors in services.
  • Directors and officers insurance: We protect executives by enforcing policy terms and defending against liability allegations.
  • Employment practices liability: Workplace disputes, like wrongful termination claims, require skilled defense like ours.
  • Errors and omissions insurance: E&O disputes arise from alleged professional mistakes. We resolve these claims to protect your business’s financial stability.
  • Key partner insurance: Even though losing a key partner can disrupt operations, we pursue claims to secure coverage for financial impacts.
  • Bad faith claims: We hold insurers acting in bad faith accountable, helping ensure fair treatment.
  • Environmental coverage issues: We secure coverage for cleanup or liability costs.
  • Auto/truck/livery liability coverage issues: We enforce vehicle-related claims policies to cover accidents or damages.
  • Life and health policies: We fight for your entitled payouts from life or health insurance benefits disputes.
  • Fidelity insurance matters: Fidelity insurance protects against employee theft. We ensure claims are honored promptly.
  • Issues of reinsurance: We resolve reinsurance disputes that involve intricate agreements.

Our attorneys have the experience and ability to review all of your insurance policies to ensure that you have secured sufficient coverage for your business. We are aware of emerging issues such as Internet liability for libel, slander, disparagement and copyright infringement. We have been involved in extra-contractual claims against carriers due to the action of the carrier’s agent or the carrier’s underwriting department.

Serving A Wide Range Of Industries When It Comes To Insurance Coverage

Insurance coverage is more than just a policy, whether you are a business owner, president, vice president, executive VP, director, C-suite executive, manager or partner. It is a critical part of protecting your company’s future.

Our firm proudly works with businesses of all sizes, from fast-growing startups to large, established corporations. We understand the unique insurance challenges that arise in different sectors, and we offer industry-specific support to help ensure our clients are covered when it matters most:

  • Finance: We assist banks, lenders, investment firms and other financial institutions with complex liability claims, coverage interpretation and regulatory compliance.
  • Health care: From private practices to hospitals and long-term care facilities, we help health care providers navigate coverage for malpractice, cyber breaches and property damage.
  • Real estate: Our team supports developers, brokers and property management companies with insurance issues related to property damage, construction projects and liability.
  • Retail: We represent local shops, online sellers, and national retail chains that are facing claims tied to product liability, theft or customer injury.
  • Business services: From consultants to marketing agencies, we guide service-oriented companies on professional liability, errors and omissions (E&O) and contract-related coverage.
  • Construction: We work with contractors, builders and developers to resolve disputes over builder’s risk, site damage and subcontractor liability.
  • Transportation: Our firm helps logistics companies, trucking fleets and delivery services manage insurance related to cargo, commercial vehicles and accidents.
  • Education: We represent private schools, charter institutions and educational nonprofits with coverage issues involving liability, employment matters and cyber risks.
  • Cybersecurity: We guide cybersecurity firms on claims involving data breaches, system failures and related liabilities.
  • Information technology: From software providers to IT consultants, we handle disputes involving tech errors, data loss and contract obligations.
  • Manufacturing: We assist manufacturers with product liability, machinery breakdown and supply chain disruption claims.
  • Emerging tech: Startups and innovators rely on us to address evolving risks involving intellectual property, growth transitions and complex policy terms.

Regardless of your sector, our team is ready to protect your business when coverage disputes arise.

Common Reasons Insurers Reject Business Liability Claims

Insurance companies have a financial incentive to limit payouts on claims. When you file a business liability claim, the insurer often searches for reasons to deny a part of your claim or the entirety of it. Their goal is to protect their bottom line, which typically comes at your expense. Knowing these common denial reasons helps you fight back. We regularly see the following reasons:
  • Late reporting or missed deadlines: Your policy has strict time limits for reporting incidents. Missing these deadlines gives insurers an easy way to deny your claim.
  • Policy exclusions: Your policy likely contains specific exclusions that limit coverage. Insurers often interpret these exclusions broadly to justify denials.
  • Incomplete documentation: Without proper evidence of your loss, insurers can easily deny claims. This includes missing incident reports, inadequate proof of damages or incomplete business records.
  • Allegations of misrepresentation or fraud: If the insurer believes you provided incorrect information on your application or during the claims process, they may void your coverage entirely.
When facing a claim denial, remember that the insurer’s decision is not necessarily final. Our attorneys have extensive experience identifying flawed denial reasoning and building strong cases for coverage.

Legal Deadlines For Insurance Company Lawsuits

When an insurance company denies your claim or fails to provide the coverage you paid for, legal action may become necessary. However, you must act within specific timeframes known as statute of limitations. These legal deadlines vary by state and policy type, making it crucial to understand the time constraints that apply to your situation.
In New York, you have six years from the contract breach date to sue your insurance company. This applies to most insurance disputes since policies count as contracts under state law.
New Jersey also allows six years for contract claims against insurers. However, bad-faith claims face shorter deadlines in both states. New York gives you three years for bad faith claims, while New Jersey allows just two years from when you discovered the bad faith conduct.
Colorado gives you three years to file contract claims against business insurers. For bad faith practices, you typically have two years from when you discovered the wrongful conduct.

Types Of Recoverable Damages In A Bad Faith Lawsuit

When an insurance company fails to honor its obligations in good faith, businesses may pursue damages beyond the original policy benefits. These damages are meant to address the financial losses and the broader harm caused by an insurer’s misconduct. 

Understanding the categories of damages available can help you assess the potential benefits and drawbacks of filing a bad faith claim.

  • Policy benefits: The most direct form of damages available to businesses is the recovery of the benefits originally owed under the insurance contract.
  • Consequential losses: Businesses may recover losses that naturally flow from the insurer’s failure, such as lost profits or expenses incurred to maintain operations or mitigate further harm. 
  • Emotional distress: In certain circumstances, courts recognize that the stress, worry and disruption caused by an insurer’s bad faith can warrant compensation.
  • Punitive damages: These damages are awarded to punish egregious conduct and deter insurers from engaging in similar practices.

The availability of damages depends on each case and the governing law in New York. Carefully documenting the financial and operational consequences of an insurer’s actions can strengthen your claim when pursuing the full measure of relief available under the law.

Answers To Questions About Business Insurance

Business insurance policies are often densely worded and legally complex, making it hard for business owners to fully comprehend them. Below, we address common questions that New York business owners often raise when evaluating their rights and obligations.

What does “bad faith” insurance mean?

Bad faith occurs when an insurance company unreasonably denies, delays or limits coverage without a legitimate basis. It reflects conduct that violates the insurer’s responsibility to deal fairly with all policyholders.

What is an insurance company’s “duty to defend,” and when does it apply?

The duty to defend requires an insurer to provide a legal defense when a claim against a business policyholder falls within the scope of coverage. This obligation applies even if parts of the claim are groundless, as long as the allegations potentially trigger coverage under the policy.

Why Work With Cox Padmore Skolnik & Shakarchy LLP For Business Insurance Coverage?

Our firm handles insurance coverage issues daily across multiple industries and policy types. We know the arguments insurers use and how to counter them effectively. Rather than risking an unfavorable result, work with a legal team that knows how to win.

Consult Our Business Risk Analysis Attorneys

For more information, contact the insurance coverage lawyers at Cox Padmore Skolnik & Shakarchy LLP. In New York, New Jersey or Colorado, call 800-209-7206 or 800-209-7206 toll-free to schedule a consultation.

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