Navigating the Insurance Claims Handling Process A 在保险索赔处理过程中导航.pptVIP

Navigating the Insurance Claims Handling Process: A Practical View With a Focus on DO Insurance Presented by: Donald W. Kiel, KL Gates Anthony P. La Rocco, KL Gates Commercial Insurance a Key Corporate Asset Difference between potentially overwhelming liabilities or losses, and survival or material impact to corporate profitability When a claim is asserted or a loss occurs, important for corporate counsel to be able to: Navigate through the minefields of the claim process Know when to negotiate and when to sue Additional complications in the DO context Program Organization A Short Primer on DO Insurance Evaluating the Claim for Coverage The Claims Process Claims Disputes I. A Short Primer on DO Insurance A Short Primer on DO Insurance Typically written on claims first made and reported basis Primary purpose to protect individual directors, officers, and certain other individuals for claims arising out of “wrongful acts” Typical policy of public company insures company only for securities claims, and indemnification of Ds and Os Typical policy of private company insures company for claims arising out of “wrongful acts,” with many exclusions, and for indemnification of Ds and Os A Short Primer on DO Insurance (cont’d) Many of the very wrongful acts that trigger the policy may also trigger application of an exclusion Intersection of broad definition of “Claim” and strict notice requirements often leads to coverage disputes Some companies combine DO with EPLI insurance II. Evaluating the Claim for Coverage Evaluating the Claim for Coverage Need to promptly evaluate to identify proper policies to be noticed Non-DO claim Multiple types of policies e.g., employment claim, including personal injury allegations Multiple years of policies e.g., long-term exposure claims Multiple layers of coverage e.g., large claim that could exceed primary policy limits Multiple coverage lines e.g., policies that covered corporate predece