Catastrophe Claims: Insurance Coverage for Natural and Man-Made Disasters

Claim Investigation, Policy Interpretation, Agent and Broker Liability, Major Exclusions, Insured and Policyholder Perspectives

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, September 19, 2019

Recorded event now available

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Program Materials

This CLE webinar will discuss the evolving trends and key coverage issues triggered by natural and man-made disasters, which produce claims under nearly every type of insurance in the marketplace. The program will explore the types of property and liability insurance involved and offer practical guidance on claim investigation, policy interpretation, and advocating for or against the major exclusions involved in catastrophe claims.

Description

In insurance parlance, a catastrophe is an unusually severe disaster impacting many insurers and policyholders. The economic costs of last year's catastrophic events came to $225 billion with insurance covering $90 billion of the overall total--64 percent incurred in the United States--and creating the fourth costliest year on record of insured losses.

When individuals or businesses do not have coverage for a catastrophe loss--or when the coverage they have is inadequate--they will look to intermediaries, agents, and brokers who sold them their policies for uninsured recovery. Given the stakes and complexity of the claims, major catastrophes invariably spawn years of insurance coverage litigation.

The sheer volume of claims and the intense publicity under which these claims must be resolved make catastrophe claims a tremendous challenge for both policyholder and insurance industry counsel.

Listen as our authoritative panel of insurance practitioners analyzes coverage issues arising from natural and man-made disasters under a range of insurance policies, provides insights from both the insured and insurer perspectives, and offers practical guidance on claim investigation, policy interpretation, and the role of major exclusions, as well as reviews the most recent developments in this rapidly changing area of the law.

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Outline

  1. Overview of catastrophe insurance and risk management
  2. Claim handling issues
  3. Agent and broker liability
  4. The critical role of causation in determining coverage for disaster losses
  5. Property insurance coverage issues
    1. Insuring agreement interpretation
    2. Exclusions
    3. Time element coverages
    4. Business interruption claims
    5. Coverage for extra expenses
  6. Liability insurance for disasters triggered by human activities
  7. Trends and recent developments

Benefits

The panel will review these and other relevant issues:

  • What are the most critical issues and practical considerations when addressing catastrophic claims?
  • What are the essential coverage issues in catastrophic claims?
  • What are best practices for determining the cause of loss, value of the loss, and interpreting the terms of the policy?
  • What legal effects have more frequent and more catastrophic disasters had on insurance coverage?
  • How do courts treat exclusions, concurrent causation, and anti-concurrent causation policy provisions?
  • How does the language of typical commercial property and liability policies impact coverage for losses from natural and man-made disasters?
  • How to minimize the potential for claims of bad faith in handling catastrophe claims

Faculty

Chung, Huhnsik
Huhnsik Chung

Partner
Stroock & Stroock & Lavan

Mr. Chung represents national and international clients in major insurance and reinsurance litigation and arbitration...  |  Read More

Ellison, John
John N. Ellison

Partner
Reed Smith

Mr. Ellison’s practice concentrates in the insurance coverage area exclusively on behalf of policyholders. His...  |  Read More

Fitzgerald, James
James E. Fitzgerald

Partner
Drinker Biddle & Reath

Mr. Fitzgerald represents insurance companies and major corporations around the country in complex commercial...  |  Read More

Greeves, Geoffrey
Geoffrey J. Greeves

Partner
Bradley Arant Boult Cummings

Mr. Greeves recovers insurance proceeds for corporate policyholders in disputed claims, coverage litigation matters,...  |  Read More

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