Miles & Stockbridge’s Insurance Acquisition, Assessment & Asset Management lawyers understand that insurance coverage is a financial asset that can provide greatest benefits when effectively managed. We tailor insurance asset management strategies for clients’ individual and specific needs.
What We Do
Insurance programs can involve varying deductibles, primary and excess limits, and carriers; potentially conflicting litigation guidelines, claims submission, management, and auditing procedures; and insurance carriers with differing expectations as to their involvement in the defense of the underlying claims.
Our experience with these complex issues enables us to provide legal counsel on:
- Current policies, including:
- Claim submissions practices
- Defense cost and expense submissions
- Regular claims status/notice submissions, providing the right carriers with timely and appropriate information to maximize coverage and reimbursement
- Alternative available insurance programs, including comparisons of proposed policy alternatives to ensure that insurance programs cover the risks most often encountered.
- Toxic Exposure Insurance: Many of our clients have settlement agreements or varying coverage positions with multiple carriers often responsible for the same claim, so we provide insurance portfolio legal management as an ongoing service.
- Self-Insurance Counsel: Some clients prefer to manage and fund their own risk, using self-insurance plans to finance their group health care and workers’ compensation liabilities. We understand the intricacies and details of many plans and companies, and advise clients on the most effective legal options and strategies. As a result, we are able to help determine the internal structures needed to administer claims using a captive insurance company, as well as secure excess coverage for product liability and other claims.
- Due Diligence Analysis: We counsel clients regarding due diligence in the acquisition of other companies, examining the insurance of the purchased companies as to its adequacy for potential liability exposures. We also assist in drafting appropriate transaction documentation that maximizes coverage benefits for our purchaser clients.
- Forensic Insurance Coverage Investigation: We research the coverage afforded by policies in effect at the time of loss exposure, sometimes implicating decades-old policies. Insurance companies typically do not retain policy documents past a certain number of years, so our forensic investigation techniques seek out insurance coverage details from alternative sources and often secure substantial loss coverage benefits for clients.