Month: February 2009

If you are a company besieged by property damage or product liability claims, you will want to take note of the following: Your old general liability insurance can protect you. But you don’t have your old policies, you say? And your insurance agent has not kept old records?

Consider hiring an insurance archeologist. The insurance archeologist will conduct a search to determine what policies you had back when the damage was happening that provided general liability coverage. Most of these old policies were written to protect against the kinds of perils you now face years later. And they can protect you today in the right circumstances. Continue reading “Specimen Insurance Policies”

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Wisconsin dry cleaners and their attorneys will want to take note of the recent decision by the Supreme Court of Wisconsin in Plastics Engineering Company v. Liberty Mutual Insurance Company and contact their local insurance archeologist to find their historical business insurance policies. As of January 29, 2009, the potential value of those old business insurance policies to pay for environmental clean ups has greatly increased.

The Supreme Court declared that the all sums method of allocating policy limitswillnow be the law in Wisconsin.The Court ruled that once the policy is triggered, the insurer must fully defend the lawsuit in its entirety and pay all sums up to the policy’s limits. Rejected was the time on the risk policy limit allocation method preferred by Wisconsin courts until now. Time on the risk had limited the value of any single policy to the percentage of the total damages occurring during that policy’s period of effectiveness. Continue reading “New Court Ruling Helps Wisconsin Dry Cleaners”