Many people may not know what reserves are. The reserve is money earmarked for the eventual claim payment. The claims reserve funds are set aside . . .… Continue Reading
In the Olin Corp. case,1 one of Olin Corporation’s (“Olin”) three carriers admitted only a small amount of liability and the other two delayed making a coverage decision. So, Olin filed suit in federal court against all three, seeking entry of a declaratory judgment that it was entitled to coverage.… Continue Reading
Insurance coverage litigation is a grueling race and winners are usually measured by their stamina and endurance through the discovery process. Courts are reluctant to get involved in discovery disputes, but they are intolerant to parties who try to smokescreen the truth. Reinsurance and underwriting documents are typical battlefields in the fight for information. Insurers … Continue Reading
Most of you are familiar with the concept of reserves. How many of you are familiar with the role of reserves in a bad faith case? Is this type of information even discoverable? Although it might not sound terribly significant, it is an important factor that should be evaluated and which many attorneys may overlook.… Continue Reading