Making Sure Liability Policy Claims Are Paid

American Banker

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PUBLISHED ON: July 27, 2007

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Here we go again.

An overheated market cools suddenly. A wave of bankruptcies is followed by a flood of private litigation and government investigations. Now it's subprime lenders' turn.

Whether your organization is a subprime lender under siege or a bank that assumed a portfolio of "second chance" loans, your professional liability insurance policy should offer some protection from these actions.

Unfortunately, the claims process itself is often fraught with conflict. Here are some typical insurance company defenses and how to counter them.