Today on Don't Take No For An Answer, Lynda A. Bennett and Alexander B. Corson discuss a recent Second Circuit decision that reinforces the importance of reading claims-made policies carefully. The case involves Tinder, the online dating service provider, which received notice of a lawsuit on Wednesday but did not provide notice to their insurer until Monday. The insurer denied coverage on the basis that the insurance policy had expired on Saturday at 12:01 AM! Their discussion focuses on such issues as what constitutes a “claim” triggering notice requirements in claims-made policies, the scope of a 60-day grace period applicable to such notice requirements, how policy audits may help companies avoid similar situations, and why it is critical for business to provide notice to their insurers early, often, and immediately upon learning of a potential liability.

Speakers:

Lynda A. Bennett, Partner and Chair, Insurance Recovery
Alexander B. Corson, Associate, Insurance Recovery

Today on “Don’t Take No for an Answer,” Eric Jesse and Alexander B. Corson discuss Aearo Technologies v. ACE American, in which a Delaware court held 3M could not credit $372 million it paid in defense costs against self-insured retentions in legacy CGL policies issued to its subsidiary, Aero Technologies, before its aquisition. The hosts discuss the implications of non-market language included in those policies – which specified that the self-insured retention could not be satisfied by payments made on Aearo’s behalf – and steps the insured might have taken to avoid this hyper-technical coverage defense that seemingly ignored the reality of corporate structuring and would have required 3M to engage in the “pointless formality” of transferring money to an Aearo bank account in order to satisfy its self-insured retentions.

Speakers:

Eric Jesse, Partner, Insurance Recovery
Alexander B. Corson, Associate, Insurance Recovery

In this episode of “Don’t Take No for an Answer,” Lynda A. Bennett and Alexander B. Corson of Lowenstein’s Insurance Recovery Group examine a recent California Appellate Court decision that underscores the necessity of negotiating seamless and consistent insurance policies across all coverage lines, highlighting the implications of poorly defined terms and the critical importance of broad notice to avoid coverage gaps. They also explore practical steps to ensure your insurance program functions as a well-stitched patchwork quilt, covering all potential risks effectively.

Speakers:

Lynda A. Bennett, Partner and Chair, Insurance Recovery
Alexander B. Corson, Associate, Insurance Recovery