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Insurance Archaeology

Helping organizations uncover the past for future protection.

In today's complex business landscape, organizations face legacy liabilities that can harm their financial outlook. These long-tail liabilities include asbestos/talc, toxic chemicals, pollution/environmental issues, product and premises liabilities, medical devices/pharmaceuticals, sexual misconduct/molestation, and more. To mitigate the financial impact of these claims, companies need access to their historical occurrence-based liability insurance policies.

Understanding the value of historic insurance

Historical insurance assets may offer protection against claim costs associated with latent injuries. When compared to their contemporary counterparts, such policies can offer substantial advantages.  Historical policies may contain broader terms and conditions, are subject to less restrictive exclusions, have lower deductibles, and frequently cover defense costs in addition to the limits of liability.  However, it is important to note, that the burden of proof of the existence of a policy often falls to the insured.  Accordingly, failing to take steps to locate your historical insurance coverage in advance of a claim may result in significant financial loss.     

Locating your historic insurance coverage

Finding lost policies can be challenging due to various factors, such as the age of documents, mergers and acquisitions, changes in insurance brokers, and files being moved or forgotten. Our team specializes in locating these policies. Through comprehensive research, including reviewing corporate records, conducting interviews, contacting former brokers, and coordinating with insurers, we can uncover your potential historic insurance coverage.

Insurance archaeology is a crucial tool for protecting your organization from the financial impact of long-tail liabilities. Taking proactive measures to identify policies across all years and acquisitions may help you prepare for potential litigation against your organization.  Doing so in a timely manner, rather than waiting until a claim is filed, can be a critical advantage in protecting your organization.

Contact us today to learn how we can help.