Beware Misuse of Related-Claims Deemer Clauses in Claims-Made Policies

A. Kate Margolis | If Pays To Be Covered The hallmark of a claims-made liability policy is coverage exclusively for claims “first made” during the policy period, thus limiting the insurer’s risk to new claims asserted against the policyholder during a finite time period. Insurers further reduce their risk by “deeming” related claims to be… Continue reading Beware Misuse of Related-Claims Deemer Clauses in Claims-Made Policies

Ticking Coverage Bomb: The Cost Of Delayed Notice In Claims-Made Policies

Jean-Paul Rudd | Adams & Adams Claims-made policies often require that policyholders notify their insurer promptly or as soon as practicably possible after an incident that may give rise to a claim. This requirement exists primarily to allow insurers to investigate potential claims while evidence is still fresh. Prompt notice helps ensure that key details… Continue reading Ticking Coverage Bomb: The Cost Of Delayed Notice In Claims-Made Policies

Related Claims Provisions in Claims-Made Liability Policies: The Policy Wording Matters!

Creighton Page | Foley Hoag Key Takeaways: Liability insurance policies are typically written on either an “occurrence” basis or a “claims made” basis. Under an occurrence-basis policy, the liability will be covered if the injury or damage occurred during the policy period. Under a claims-made policy, the coverage is triggered if the claim against the… Continue reading Related Claims Provisions in Claims-Made Liability Policies: The Policy Wording Matters!

First Circuit Confirms That Late Notice Bars Coverage Under Claims-Made-And-Reported Policy

Joseph W. Gross | Wiley Rein The United States Court of Appeals for the First Circuit, applying Massachusetts law, affirmed the United States District Court for the District of Massachusetts’s holding that a university’s late-noticed claim was not covered under a claims-made-and-reported insurance policy. President & Fellows of Harvard Coll. v. Zurich Am. Ins. Co., 2023 WL 5089317 (1st… Continue reading First Circuit Confirms That Late Notice Bars Coverage Under Claims-Made-And-Reported Policy

No Coverage For Claims Made Outside Of Claims-Made Policy Period

Thomas Benjamin Boley | Wiley Rein The United States District Court for the Northern District of Illinois, applying Illinois law, has granted a legal professional liability insurer’s motion for summary judgment, holding that its claims-made policy did not apply to various claims that were first made either before or after the policy period. Twin City Fire… Continue reading No Coverage For Claims Made Outside Of Claims-Made Policy Period