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Risk and Recovery: Legal Insights for the Insured

Category Archives: Claims Management

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Calling a Letter a “Reservation of Rights” Does Not Necessarily Make It So

Posted in Claims Management

Many insurers are in the habit of sending perfunctory “reservation of rights” letters to their insureds throughout the lifetime of a claim.  The reason they do so is not a very well-guarded secret in the insurance industry.  An insurer that acknowledges coverage must pay any eventual settlement or judgment, while an insurer that denies coverage… Continue Reading

New York’s High Court Finds Contractual Limitation Period Unenforceable, Where it Places Policyholder in Impossible Catch-22 Situation

Posted in Claims Management

How is a policyholder supposed to obtain coverage under a policy that requires the insured to bring its claim within two years of the loss and also imposes preconditions on bringing a claim that cannot reasonably be satisfied within two years?  Recognizing the fundamental unfairness of such inconsistent policy provisions, the New York Court of… Continue Reading