Most companies would never enter into a complex $50 million transaction without the deal being vetted by counsel. Yet, that is precisely what many do every day when they entrust their assets and their very survival to insurance policies that are never seen by their attorneys.
Likewise, insurance claims are often pursued without the benefit of counsel’s evaluation of the company’s contractual rights or advice on how to pursue coverage in a way that will protect its interests if a negotiated solution cannot be reached. In-house counsel have an
important role to play both when insurance is obtained and when claims are pursued.