Impact of Recent $92 Million Verdict on Insurance Carriers and Legal Defense

A $27,000 fire claim just spiraled into a $92 million
verdict. The carrier is now suing its own defense lawyers.

Twenty years ago I was a rookie broker riding the Path
train into Manhattan with a stack of Wall Street Journals, the Financial Times, old Bloomberg magazines,
and a red pen.

I'd tear through everything before I got to the office. Cross out the noise. Circle the two or three things that actually mattered.

Any article impacting the insurance markets. The stuff a CFO or Risk Manager needed to know before their next renewal, but didn't have
time to source / read fully.

A red pen, a copier, and a point of view.

The verdict we wrote about this week is exactly why this habit started.

Also how the E&O shield protecting insurance operators hasn't kept pace with the work operators actually do.

And two nine-figure bad-faith awards landed in a single year
from opposite mechanics. One from a jury, one from
a statute.

Nobody has time to read 200 articles a week. But somebody needs to connect these dots for you before your next renewal.

So every week we review over 200+ articles, shortlist
15, and publish the three we think matter most. Every story runs through the LION Lens.

Will it impact insurance pricing, capacity,
or claims?

We ship it every Friday morning. A quick summary or the article. Along w our take on how it might impact the market.

+ how we’re advising our clients.

The red pen habit never stopped!

Comment BRIEF and I'll send you this week's Boardroom Brief...including the Great Lakes verdict, the E&O gap hitting carriers and MGAs, and a bad-faith map every operator should see before
renewal.

#insurancelaw #liabilityinsurance #legalverdict #insuranceclaims #riskmanagement