Insurance Enhancement Ideas

Insurance Enhancement Ideas

Peter Gillon, Partner, Pillsbury Winthrop Shaw Pittman LLP

As the current soft market conditions in property and casualty insurance seems to continue unabated, there are things businesses may be able to do, in addition to seeking premium reductions. Here are a few examples:

  • Increase limits and improve wording for property policies, eliminating anti-concurrent causation provisions and tailoring coverage to track your actual operations, especially on coverage extensions.
  • Tune up D&O coverage to eliminate unfavorable wording, from the "loss" definition to "conduct exclusions," and from defense provisions to allocation of uncovered loss.
  • Request a reduction or elimination of general liability deductibles and update aggregate general liability limits.
  • Eliminate "standard" exclusions in general liability policies and curtail onerous notice requirements and other such provisions.

These are clearly just the tip of the iceberg, but offered to get the discussion rolling.  I would be interested in hearing about what major enhancements others have secured recently.  Feel free to add to this list. Or contact me at peter.gillon@pillsburylaw.com and let me know.