Insurance Lifelines in the Credit Vortex: An Anderson Kill Guide to Maximizing Coverage
10/7/2008
No one has ever seen anything quite like the subprime crisis or the AIG bailout. But at Anderson Kill, we have seen -- and successfully countered -- every coverage defense that insurance companies habitually throw up when faced with a high volume of high stakes claims.
The articles linked to below offer a wealth of information that will 1) help you determine which policies may respond to any liabilities you may face as a result of the subprime crisis; and 2) prepare you for coverage defenses you are likely to encounter if you do file a claim. First, a brief outline of insurance recovery basics:
Steps to Take When Faced with a Credit Crisis Loss
1. First and foremost, think insurance! Find and review your insurance policies. See “Is the Credit Crisis a Black Hole for D&O Liability Insurance?” for information about which policies cover which liabilities.
2. Provide prompt notice of claims to your insurance company.
3. Consider enlisting the assistance of your broker or accountant in developing claim information.
4. Aggressively pursue the coverage for which you paid, as well as OPI (other people’s insurance) where available. Please see the articles below for information about which policies respond to which liabilities as well as typical coverage defenses and how to counter them.
For more detailed information, please see the articles below.
White Papers
Articles
For additional information, please feel free to contact the following individuals below:
William G. Passannante
Mark Garbowski
Costa N. Kensington
Marshall Gilinsky
Pamela D. Hans
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