Subrogation is the legal right of an insurer to recoup the amount of insurance claim it paid to a policyholder by suing the party responsible for the damages. However, many insurance companies miss the opportunities offered by subrogation as they often neglect to pursue their right, or they do so, but with ineffective subrogation practices.
How to Effectively Handle Depositions in Insurance Coverage and Bad Faith Litigation: A Practical Guide
jordan2021-10-04T04:46:06-04:00Depositions are a crucial part of the pre-trial discovery in insurance coverage and bad faith litigation. It also involves nuances distinctive to insurance law, such as the legal complexities brought by Rule 30(b)(6), which litigators need to be well-versed in. Successful management of litigation deponents is a significant step to prevailing in the case, hence, thoughtful strategies need to be put in place.
Understanding Insurer’s Duty to Settle: Practical Tips to Avoid Bad Faith Claims
Iwork OJT2021-05-10T22:53:51-04:00An insurer’s ability to refuse a settlement case is only limited on account to its duty to act in good faith. Instead, they owe its policyholder a duty to settle if, and only if, the policyholder’s settlement amount is within the limit of the insurer's policy.
Deposition Strategies in Coverage and Bad Faith Litigation: Best Practices Explored
Iwork OJT2021-05-06T08:16:48-04:00Claim handler's depositions play a significant role in insurance coverage disputes. However, these types of disputes often include several underlying factors that the use of credible witnesses and experts, and the preparation of depositions become prone to risks and damages.
Bad Faith Litigation and Insurance Coverage: Best Practices and Strategies You Should Consider
Iwork OJT2021-07-06T23:08:08-04:00The deposition of a claim handler is very significant to an insurance coverage dispute, especially in the field where there are bad faith allegations.
How to Effectively Handle Bad Faith Claims: A Practical Guide
Iwork OJT2021-04-23T04:02:21-04:00Over the last several years, there had been a surge of bad faith insurance lawsuits in the U.S. Policyholders would typically use bad faith claims and extra-contractual allegations against their insurers in high-stakes risk litigations as seen in previous cases.
Business Interruption Insurance: Lessons Learned from the Pandemic
Iwork OJT2021-06-15T03:55:09-04:00The COVID-19 pandemic is drastically affecting today’s global economy. Because of temporary closures and disrupted supply chains and sales, businesses today are confronted with profound income losses. This fallout has prompted an upsurge in business interruption insurance claims. Whether standard commercial policies provide coverage for virus-related income loss is hotly contested, however. Likelihood of recovery on such claims will depend on the terms and conditions of individual policies, as well as ongoing developments in litigation and legislation.
Business Interruption Insurance Coverage Claims and Litigation: What You Must Know and Do Amid the COVID-19 Pandemic
TKG2021-06-14T23:29:18-04:00Since the onset of shutdown orders due to COVID-19, business owners have turned to their insurance policies to seek coverage for lost revenue and other pandemic-induced expenses. Insurers have generally denied business interruption coverage to these claims, referring to policy requirements for direct physical loss. Policyholders have brought their claims to the courts and, in most cases, judges have ruled in favor of the insurers. However, this trend is expected to change as plaintiffs start to find the weaknesses of the defendants’ arguments.
Representations and Warranties Insurance: Trends, Developments, and Issues You Should Know
TKG2021-08-22T22:07:05-04:00The representations and warranties insurance (RWI) market continues to rapidly evolve as it responds to the ongoing pandemic. A number of RWI trends have started to emerge including the classification of the current crisis as a heightened due diligence area and the standardization of COVID-19 exclusions. More significantly, several other issues are yet to arise as the health crisis continues to unfold.
A Practical Guide on Business Interruption Coverage: Managing Complexities in a COVID-19 Era
TKG2021-09-30T22:01:36-04:00Today's business landscape has been significantly confronted with profound economic disruptions and income losses due to the impact of the COVID-19 pandemic. These disruptions have made business interruption insurance a standard component for several business sectors seeking assistance in recovering lost revenue amid the crisis.
Cyber Insurance in Commercial Contracts: What You Must Know and Do
TKG2021-03-22T23:57:26-04:00Cyber insurance has been valuable in covering non-physical losses in commercial contracts. Significantly, as cases of cyber threats continue to proliferate, many contracts now contain a sub-clause on cyber coverage which protects businesses from damages brought by data breaches and computer attacks. Cyber insurance also provides coverage for regulatory investigations as well as for third-party claims.
Bad Faith Insurance Practices: Exploring Legal Risks and Post-COVID-19 Implications
John Patrick2022-04-03T21:24:46-04:00In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in Bad Faith Insurance Practices: Exploring Legal Risks and Post-COVID-19 Implications. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!
Handling Insurance Bad Faith Claims: Red Flags to Watch Out For
Joenel2022-05-17T22:18:46-04:00While the essence of insurance is to hedge against financial losses caused by unexpected damages, there are instances when an insurance company fails to fulfill its obligations and duty of good faith. This instance, more commonly known as insurance bad faith, can happen in several ways, including an insurer’s misrepresentation of the contract or its failure to disclose specific policy scopes.
Demystifying Insurance Bad Faith Claims: Litigation Red Flags and Tactics
Joenel2022-04-19T21:54:26-04:00There are many types of cases that may constitute the filing of a bad faith claim. The varying jurisdictions surrounding this area of law also pose additional uncertainties making it harder for insurance companies to devise effective litigation tactics. Thus, it is of vital importance for practitioners to be in the know of the common red flags and pitfalls to avoid potential liability claims and other financial damages.
How to Effectively Prevent Bad Faith Claims: Critical Considerations for Insurers Explored!
Joenel2022-02-07T09:10:30-05:00The ever-changing landscape of insurance coverage litigation has always posed several challenges to insurance companies. Because of this, complex coverage issues and risks of bad faith claims have also notably increased and insurers are left with the important task of effectively handling and preventing such claims.