United States: Looking back on a successful year of podcast life
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Lowenstein Sandler’s Insurance Recovery Group has embarked on an exciting new endeavor in 2021. We have launched our own podcast, “Don’t Take No for an Answer”, which strives to provide our listeners with brief but informative discussions on topical insurance topics and fundamentals. that underlies all insurance claim disputes in an digestible and entertaining format. So far, we have launched 29 episodes featuring a variety of guests, ranging from insurance industry experts such as insurance brokers and insurance company representatives to lawyers, who have discussed how insurance matters intersect with other areas of law. Our goal in putting on this podcast has been to offer simple, practical advice on common insurance issues that arise when negotiating initial coverage and handling claims disputes. We’ve highlighted a few of our most popular episodes below to give you an idea of what to expect should you decide to tune in.
The Ransomware Attack Part 1 – How to keep the enemy at the gates
(March 4, 2021)
This episode featured Bridget Choi, Deputy Advisor and Chief Strategy Officer at Kivu Consulting, and David Anderson, then Vice President of Lockton Insurance’s Cyber Technology Group. We discussed the current state of the cyber insurance market and, in particular, the effect of the recent increase in ransomware demands. Our guests offered practical advice on what companies can do to avoid and manage ransomware attacks and provided helpful insights into how companies can present themselves as good risks during the cyber underwriting process. -assurance. Our guests also discussed what they learned about cybercriminals and how they acted during this unprecedented year of cybercrime. This is a must-watch episode if you want to learn more about the intersection of cybersecurity and insurance recovery.
Insurance of Representatives and Warranties: Closing the Deal (July 9, 2021)
This episode featured guest Michael Wakefield, Senior Vice President and Head of Transactional Insurance Practices at CAC Specialty, and Eric Jesse, Partner at Lowenstein Sandler Insurance, who joined to discuss the current state of the market. of Representatives Insurance and Warranties (RWI) and where we think the market is going. We talked about how RWI has become an increasingly popular product in competitive M&As, the factors a buyer should consider when selecting an RWI underwriter, and some of the big changes that we have recently seen in the RWI underwriting process, due to both COVID-19 – and non-COVID-19 related market factors. We’ve also provided some critical thoughts on how the RWI underwriting process needs to keep pace with the transaction, which is often fast and ever-changing, and how RWI is beginning to emerge in SPAC transactions. This is a great episode to listen to if you want to learn more about how insurance has changed with the recent increase in M&A activity.
The D&O renewal market: will the rat race of premium increases, stretched capacity and restrictive conditions continue? (March 18, 2021)
This episode featured guest Robert Crocitto, Principal Broker and Sales Manager at ARC Excess & Surplus, LLC, and focused on the unprecedented challenges 2020 has brought to every business and industry and the impact of the year on directors and officers liability (D&O) insurance renewal market in 2021. We discussed how D&O insurers have started trying to limit coverage, especially on the entity side of D&O policies, and to implement new policy exclusions in the wake of the COVID-19 pandemic. We also talked about some positive developments in the market, like how this year has seen new players enter the market, especially on the excess side. Rob shared some insight into the sectors hardest hit by the COVID-19 pandemic and the types of questions companies can expect from insurers as part of their annual D&O renewal process. This episode will be useful for companies wanting to learn more about recent changes in the D&O market or anyone interested in learning more about the impact of COVID-19 on the commercial insurance market in general.
Can’t we all get along? Effective Ways to Navigate the Tripartite Relationship Between Policyholders, Insurers and Insurer’s Chosen Defense Counsel (September 23, 2021)
This episode featured guests Loren Pierce, Partner at Bressler, Amery & Ross, and Tom Quinn, Partner at Wilson Elser, and focused on the “tripartite relationship” that exists between an insured, their insurer, and the claim attorney. defense of the insured in a lawsuit covered by an insurance policy. We discussed some of the difficult dilemmas that can arise in this complex relationship and shared techniques for maintaining harmony between these three parties who have both common and competing interests. We discussed the importance of communication and transparency at all times, who the real “client” is in the arrangement, the important relationship between cover and defense counsel, and how a harmonious relationship can help the insured obtain the best result on all fronts of litigation. This is an episode of “Insurance Basics” that sheds light on the kinds of problems attorneys face when an insurer is responsible for funding a legal defense, but coverage issues can hide in the background.
Brokers: friend, foe or foe? (February 18, 2021)
In this episode, our co-hosts, Lynda Bennett and Michael Lichtenstein, discussed the unique role insurance brokers play in the policy placement and claims adjudication process. One of the themes of the episode was the importance of the relationship with the broker in order to obtain advantageous cover at the outset and to deal with insurers in the event of a loss. We’ve discussed the benefits of teaming up with a large, full-service broker and when it might make more sense to work with a smaller, more specialized broker, especially when it comes to some emerging insurance products. We also discussed the benefits of working with a broker with an established network who may have better pricing information and can place coverage with the best insurers. We’ve highlighted the issue of attorney-client privilege in the negotiation and claims-handling processes and offered helpful tips on how to avoid inadvertently waiving that privilege when communicating with the broker. This episode is a great introduction to the world of brokers and offers valuable insight even if you’ve been working with brokers for a long time.
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