Insurance Archaeology.
The increase of litigation, particularly asbestos and environmental liabilities, has caused policyholders, many facing lawsuits for the first time, to recognize the need for finding their historic insurance policies. Due to the passage of time, such policies may have been destroyed or lost. Nevertheless, coverage may still be available to the policyholder if secondary evidence of coverage is introduced.
The consultants at SandRun Risk are often retained to help a company locate its missing insurance policies and to reconstruct their corporate histories. As a part of that process, we develop the scope of the search, where the search will be conducted, and the cost of the project. Predecessor and successor company policies are identified and located. Other sources to investigate are identified, including former and current brokers, employees, insurance companies, attorney files, court records, to name a few. We can help maximize a company’s insurance asset by locating the actual missing policy or secondary evidence of it. Even when the actual policy cannot be found, an insurance company may accept secondary evidence as proof of the policy’s terms and address the claim based on that evidence.
Over the years, we have located missing insurance policies worth millions of dollars in insurance limits in filing cabinets, in boxes in attics, in an old safe in the basement of a company’s corporate headquarters, in historic litigation files, and at off-site storage facilities. We have created coverage graphs of the historic insurance programs and helped the clients use the located policies to recover defense and indemnity costs for environmental, asbestos and other toxic tort claims from its insurance carriers.
The consultants at SandRun Risk are often retained to help a company locate its missing insurance policies and to reconstruct their corporate histories. As a part of that process, we develop the scope of the search, where the search will be conducted, and the cost of the project. Predecessor and successor company policies are identified and located. Other sources to investigate are identified, including former and current brokers, employees, insurance companies, attorney files, court records, to name a few. We can help maximize a company’s insurance asset by locating the actual missing policy or secondary evidence of it. Even when the actual policy cannot be found, an insurance company may accept secondary evidence as proof of the policy’s terms and address the claim based on that evidence.
Over the years, we have located missing insurance policies worth millions of dollars in insurance limits in filing cabinets, in boxes in attics, in an old safe in the basement of a company’s corporate headquarters, in historic litigation files, and at off-site storage facilities. We have created coverage graphs of the historic insurance programs and helped the clients use the located policies to recover defense and indemnity costs for environmental, asbestos and other toxic tort claims from its insurance carriers.