Brooks & DeRensis has developed a practice group specifically designed to assist its clients in the design, analysis, review, and implementation of insurance programs. The Insurance Advisory Services Group (“IASG”) consists of members of our firm that have the expertise necessary to advise businesses concerning their insurance programs, and to actively pursue appropriate recoveries in the event of losses.
Targeting the Risk
Unlike traditional risk management services provided by law firms, the IASG draws on all areas of our legal practice: Real Estate, Corporate, Land Use/Environmental, Employment, Regulatory, and Litigation. We leverage the resources of our firm to fully integrate clients’ insurance programs into their businesses.
From our experience handling the diverse legal affairs of commercial clients and high net worth individuals, we understand the role of insurance in business operations. We “target the risk” — to advise each client on insurance issues unique to its business, to enhance its existing insurance program to achieve cost-effective approaches for managing risk, and to enforce insurance policies as necessary.
Managing the Risk
Traditionally, insurance has been a cost-effective approach to transferring risk. However, in several areas of today’s marketplace, insurance has become unavailable or prohibitively expensive. Other methods of risk transfer therefore may be preferable. Independently or with its clients’ existing risk management teams, our IASG provides advice regarding financially reasonable alternatives to traditional insurance placements.
Enforcing the Contract
The insurance marketplace has changed dramatically in just five years. Insurers and their partners routinely raise underwriting and coverage questions that previously were of no concern. This is due to the industry’s departure from traditional underwriting methods and its increasing dependence on investment income to produce an operating profit. What once was a collaboration that resulted in the prompt payment or defense of claims, now sometimes is merely a suggestion of security.
The IASG is uniquely qualified to assist our clients by enforcing insurers’ contractual obligations. Even experienced litigators who understand what an insurance contact is supposed to do rarely have the experience required to enforce that contract. Our insurance litigation team has a unique perspective on these issues from representing insurers and insureds for over thirty years. We are well-suited to the task of enforcement.