The hallmark of a claims-made liability policy is coverage exclusively for claims “first made” during the policy period, thus limiting the insurer’s risk to new claims asserted against the policyholder during a finite time period. Insurers further reduce their risk by “deeming” related claims to be a single claim made on the earliest date the
As many policyholders are acutely aware, the insurance landscape is complex, with numerous insurers offering a wide range of available insurance programs. While some coverage forms are standard, many are unique to specific industries and even to individual insurance companies. This diversity makes it critically important for policyholders to know the risks that their particular
Parties to a lawsuit may have vastly different perspectives on the validity and value of a claim, but as a matter of course, the issue of settlement will arise. Trial is an exceedingly expensive endeavor with an uncertain result. From a risk management perspective, the decision to settle is critical. Yet under liability policies that