January 2011

So here’s a frustrating aspect of coverage work.  The underlying plaintiff sues the policyholder based on a complaint that was inartfully drafted (which, in some instances, is a nice way of saying that the complaint looks like it was written while the lawyer was tripping on mescaline).  The carrier denies coverage because nothing in the…

Got an e-mail from my friend John Denton at Marsh Risk Consulting about The English & American Underwriting Agency Pools (“EAU”) and their Scheme of Arrangement closure. Any historic London excess placements probably would have included one or more of the EAU companies as carriers. There are actions necessary to safeguard any outstanding claims, whether known or

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In commercial accounts, retrospective rating is a fairly common concept. A retrospective premium program is exactly what its name suggests: a method to calculate the policyholder’s premiums for liability insurance “retrospectively.”  While the formulae for calculating retro premiums can get pretty involved, the basics are as follows. 

A retrospective premium policy, unlike a standard insurance…