Insurance Consulting > Third-Party Liability Insurance Consulting > Coverage Availability

Often a clear understanding of the breadth and depth of existing coverage provides only part of the story. Prior claims, corporate transactions, specific policy terms and exclusions, and carrier insolvencies can significantly cloud that picture. LLM’s tools help clients differentiate between purchased and available/viable coverage.

We provide detailed reports and coverage charts to graphically depict complex coverage information in an easy-to-understand format. Our system can be tailored to outline available coverage or highlight specific issues such as exclusions, insolvencies, and other gaps in coverage to help evaluate alternatives for eroded or unavailable coverage.  We do this in the following ways, as applicable:

Integrate Other Claims – An insurance policy typically covers a wide range of events.  As a result, policies may already be in use or previously eroded. LLM partners with risk managers to audit other claims that may have eroded policy limits to gain a better understanding of remaining coverage.

Review Corporate Structure – M&A activity typically affects insurance assets such that different entities claim rights to the same policies. LLM reviews historic transactions and determines access to shared coverage, as well as any previous exhaustion.

Examine Policy Exclusions – Policy exclusions such as environmental, asbestos, or product-specific carve-outs can significantly impact available coverage for certain liabilities.  By using the policy data tools outlined above, LLM can conduct a thorough review of policies to determine which are accessible for existing and/or potential liabilities.

Integrate Insolvencies – An unfortunate reality of the insurance business is that the company that provided insurance yesterday may not be here today. LLM reviews its clients’ coverage to identify insolvent insurers, assess recoverability from those insurers, and assess the financial strength of other carriers to determine other potential credit risks.

Identify Exhaustion, Availability, and “Gaps” – As a result of these thorough reviews, we generate charts to highlight potential exhaustion/availability and any coverage gaps due to exclusions, lack of coverage, or insolvencies. These charts help our clients understand the true availability of coverage and arm them with the information and data they need to make informed strategic decisions regarding their liabilities and related insurance coverage asset.

Contact us about your specific case needs: (440) 498-0171 info@llmconsult.com