‘Devastation” is the only word to describe the conditions in Houston, Texas and the surrounding areas following Hurricane Harvey. All efforts for the foreseeable future will rightly be focused on search and rescue, and the preservation of life and property. As difficult as it is to imagine now, the waters will eventually recede, employees and their families will be accounted for, and the financial toll will then begin to be tallied.
That financial toll will undoubtedly include lawsuits faced by building owners, real estate development and management companies, and the directors and officers of buildings in Harvey’s aftermath. Even if those lawsuits are ultimately unmeritorious, potential defendants likely will incur significant legal fees disproving their liability. For those businesses facing potential liability from negligence and breached duties claims, liability insurance may be an important asset to help offset defense costs and settlement or judgment payments.
