Hurricanes Katrina, Rita, and Wilma were among the most damaging storms in history. There are still hundreds of pending commercial property insurance claims from these hurricanes, winding their way towards resolution. Future hurricane seasons are expected to be punishing and could produce hundreds more commercial property insurance claims.
At the same time, there is a tremendously active market in the sale and purchase of commercial properties, especially income producing properties like hotels. Sellers and purchasers of commercial properties have confronted, or may confront, the issue of what happens to an insurance claim when a commercial property is sold.
Read the full article, "The Effect of Sale of a Commercial Property on a Pending Insurance Claim" at adjustersinternational.com.