In business, as in life, opportunities are always balanced by risks. Success is achieved, in part, by striking a suitable balance. Businesses and individuals use insurance as an important tool, along with good practices and planning, to mitigate the consequences of unintended or undesired events.
The insurance industry has a broad range of programs and policies that help minimize potential threats to businesses, their owners, directors, executives and customers. But when insurers make changes to—or refuse to honor—those policies, the very security that insurance is intended to provide is put in jeopardy. Too often, even sophisticated insureds find themselves in disputes with their insurers when the intended benefits of their coverage are most needed. Much Shelist’s policyholders’ insurance coverage attorneys have spent their careers representing insured businesses and individuals facing this difficult situation.
A Holistic Approach
We take a holistic approach to the insurance coverage practice that encompasses both counseling and advocacy on behalf of our clients. Our insurance coverage counseling and litigation services are most successful when they work hand-in-hand. As dedicated business lawyers, we appreciate the ever-changing risk landscape confronting our clients, and assist them in planning how to limit those risks. As experienced litigators, we are deeply familiar with how insurance companies interpret their policies, as well as the methods they use to delay or avoid paying claims. We apply this knowledge, experience and practical perspective when analyzing and negotiating terms and contracts. This helps contain risks and minimizes the likelihood of future litigation. But when litigation cannot be avoided, we use our extensive claim and trial experience to fight to obtain the coverage our clients have bought and paid for.
What's New in Policyholders' Insurance Coverage
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Neil Posner, Chair of the firm’s Policyholders’ Insurance Coverage group, provides his insights on the complexity of M&A deal insurance.