Originally Published MX January/February 2005
GOVERNMENTAL & LEGAL AFFAIRS
Maximizing Insurance Assets|
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To make sure that a company has access to all of its insurance assets, company executives should carry out the following steps.
- Keep a historical log of all liability insurance policies.
- Work with the company's insurance broker to keep secure and comprehensive records of insurance coverage.
- Report claims promptly to all insurance carriers who might conceivably have coverage.
- Notify all excess and umbrella insurers.
- Engage an "insurance archaeologist" if the stakes are high and the company needs to verify evidence of old insurance policies and coverage terms.
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