Commercial Flood Claim – Penalty Interest Recovered $45,833
Case Study
This Commercial Property Owner Could Have Recovered $45,833 in Interest Without Reopening Their Claim
Total Original Claim Payment: $500,000
- Property Type: Commercial
- Peril: Flood
- Location: Houston, Texas
- Date of Loss: March 2021
- Docs Submitted: July 2021
- Payment Issued: June 2022
- Delay: 11 months
- Interest Rate: 10% negotiated (reduced from statutory 18%)
- Penalty Interest Recovered: $45,833
A lengthy delay on a commercial property claim. Though the final interest rate was negotiated down, the policyholder still recovered over $45,000 in additional compensation. (This is a sample case study based on similar qualifying claims. Figures are illustrative.)
