A first-of-its-kind program launched last year is still sitting on the shelf, according to the program's underwriting manager, who said sellers' attitudes are responsible for the lack of movement.
While creators of Complication Insurance and Plaintiff Contract Litigation Insurance say doctors and lawyers are enthusiastic about pushing sales, insurance brokers have been less inclined to inform customers that their best efforts might result in adverse outcomes, according to Richard Robin, CEO of NAS Insurance Services in Encino, Calif.
“Candidly, that's one program where the product just hasn't succeeded,” said Mr. Robin, when asked for an update on Claims Dispute Insurance, a product conceived by wholesaler Swett & Crawford and underwritten by NAS on behalf of syndicates at Lloyd's.
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