Property Damage & Business Interruption Insurance

Long a leader in insurance coverage, Reed Smith has a track record of success helping clients structure their property insurance and collect policy proceeds for property damage and business interruption losses.

Reed Smith’s Insurance Recovery Team has represented policyholders in claims involving manufacturing facilities and equipment, office towers, transportation infrastructure, telecommunications equipment, and consumer goods.

Our experience includes claims arising from:

  • Mine floods
  • High-rise building fires
  • Collapse of bridges and other structures
  • Corrosion of industrial heat exchangers
  • Food products contamination
  • Loss of a communications satellite
  • Catastrophic failure of a glass furnace
  • Industrial waste exhaust systems
  • Computer failures and loss of data on electronic media
  • Catastrophic deflagration in a textile mill
  • Breach of policy warranties involving security measures and fire safety equipment

We have served as counsel in cases involving intentionally inflicted damage, including terrorist attacks. Recently, we have helped clients cope with the industry wide changes to property insurance policies that followed the 9-11 tragedy and other events.

Firm lawyers are knowledgeable about all aspects of property insurance coverage, including cause and origin, valuation, business interruption, contingent business interruption and codependency, valuable papers and records, and sue and labor claims. We represent clients in matters involving the full spectrum of standardized and manuscript policies, as well as primary and excess property insurance policies.

Members of our team are seasoned trial lawyers. We leverage our success in court to aggressively negotiate with insurers, often enabling us to collect on policies while avoiding the expense of trial. When the need arises, our attorneys are experienced in trying cases in state and federal court, including bankruptcy proceedings. We also have significant experience in all forms of alternative dispute resolution including arbitration, mediation, and appraisal.

We have represented policyholders in negotiations and disputes with most major insurers, including Lloyds and the London Insurance Market, AIG, Zurich, The Hartford, Chubb, Travelers and St. Paul.

Our team’s extensive experience in litigating coverage claims means we know how to structure effective property insurance policies from the start. We analyze existing coverage, advise on insurance needs and help negotiate coverage. Firm lawyers also counsel clients concerning the insurance implications of corporate transactions, such as acquisitions, mergers and divestitures, and draft insurance coverage language for transactional documents.