X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Insurance archaeology exists because policies often last longer than the companies that bought them and the insurers that wrote them. (Photo: Shutterstock)

Most people think of archaeology as it pertains to items of historic value – gravesites, buildings, artifacts and the like. They tell a story about a specific period in time and give us insight into what transpired many years ago.

In insurance, long-tail environmental claims create coverage questions that other types of claims may not. When a claim arises years after an environmental event occurs, determining who is liable and which responsible party will pay can take some investigating, which is where insurance archaeology comes into play. Like archaeologists who can determine what occurred somewhere hundreds of years ago, insurance archaeologists can identify the possible insureds for an impacted site, the types of coverage in place at the time, what subrogation opportunities might exist and other factors affecting liability.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

More from this author

The British Legal Awards 2021Event

Celebrating achievement, excellence, and innovation in the legal profession in the UK.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.