Miles & Stockbridge's Insurance Recovery and Risk Management practice focuses largely on business insurance policyholders, helping clients to obtain, maximize, and effectively manage their insurance coverage as a financial asset, and to minimize risk proactively to avoid claims in the first place. We typically represent policyholders utilizing the extensive knowledge of our clients' industries from our historic representation of corporations, businesses and other organizations. Our familiarity with how insurance companies underwrite, reinsure and evaluate risks and claims gives us particular insight into the coverage to which our clients are entitled under their policies. Our approach combines technical knowledge of insurance company coverage procedures with practical, hands-on business experience to help clients avoid problems when possible and secure the maximum coverage when necessary. We have extensive experience with many types of commonly issued policies, such as CGL, D&O, E&O, workers' compensation, and all forms of first-party property policies. When traditional policies are unavailable or do not afford coverage for a unique business risk, we utilize our extensive relationships with insurance brokers to obtain specialty coverage or to explore other creative options to insure the risk at issue. The counsel we provide to our clients covers three distinct coverage and risk stages:
Our lawyers regularly advise clients on insurance programs they are considering or the actual coverage afforded by the policies that they have already purchased. We routinely counsel clients with comparisons of proposed policy alternatives or assessments of particular policies to ensure that the policies actually cover the risks about which our clients are most concerned. Our coverage lawyers have deep and long-standing relationships with many sophisticated brokers to explore insurance options when pricing or availability of traditional policies is problematic. Because of our historic representation of manufacturers and other clients with mass tort or environmental claims potentially implicating policies purchased many years ago, we have developed innovative techniques to research and find historic coverage afforded by policies in effect at the time of the loss/exposure sometimes dating back decades. We counsel clients on claims management strategies to minimize the impact on remaining policy limits, and help them manage and fund their own risk through self-insurance and captive insurance programs.
We represent policyholders in disputes over the denial of insurance coverage in a variety of contexts, including environmental liability, asbestos and other toxic exposures, business interruption, errors and omissions claims and similar catastrophic liability issues. Because these disputes often involve class action or classic mass tort litigation, we regularly work to reconcile the sometimes-inconsistent defense goals and long-term objectives of our clients with the sometimes-shortsighted settlement strategies that some carriers prefer, and are adept at reconciling defense strategies when multiple carriers are involved. Many of our coverage lawyers have significant experience in handling the types of claims involved in coverage disputes, allowing us to appreciate and manage the tension that can sometimes exist between the policyholder's and insurer's overall claims strategy.
Our deep and historic relationships with manufacturing, real estate and other corporate clients have enabled us to develop proactive strategies and processes designed to minimize or control claims before they arise. We emphasize such proactive strategies as claims and litigation analysis, product safety review and compliance, risk management training and document retention/e-discovery programs to reduce risk and liability enabling clients to minimize or control claims, obtain better pricing for their insurance programs or to structure creative insurance programs with self-insured or captive insurance program components.
For more information about the Insurance Recovery & Risk Management practices of Miles & Stockbridge, please contact Joseph W. Hovermill via telephone at 410.385.3442 or via email or Joseph L. Beavers via telephone at 410.385.3582 or via email.