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Reservation of rights: Harsh consequences for getting it wrong
By Randy J. ManiloffIf your reservation of rights letter doesn't 'fairly inform' the insured, the penalty for the carrier can be severe.
Property & casualty insurance claims can sometimes result in lawsuits. Claims provides court cases and legal analysis on the latest issues affecting bad faith, subrogation, assignment of benefits and product liability. Articles include strategies to manage defense costs, proactive litigation strategies and red flags in claims that could lead to litigation.
If your reservation of rights letter doesn't 'fairly inform' the insured, the penalty for the carrier can be severe.
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