DISCOVER: HISTORIC INSURANCE COVERAGE TRACING SERVICE

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Grace Dixon
8 years ago
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1 DISCOVER: HISTORIC INSURANCE COVERAGE TRACING SERVICE

2 DISCOVER Historic insurance coverage tracing and claims handling service A product devised by Hill Dickinson to assist companies, brokers and insurers in limiting the significant financial exposure which arises from long-tail disease claims.

assist companies, brokers and insurers in limiting the

3 HILL DICKINSON DISCOVER: HISTORIC INSURANCE COVERAGE TRACING SERVICE Liabilities arising from disease claims still pose a major financial threat to UK businesses and their insurers. Such claims often involved exposure which took place many years ago and, as a consequence, it can be problematic identifying the EL/PL insurers with the obligation to indemnify. With the introduction of the Employers Liability Insurance Bureau imminent and the ABI and the Government actively promoting use of the Code of Practice for tracing EL insurance, brokers, insurers and insureds are facing increasing pressure to resolve long-tail disease claims quickly and sympathetically. Companies facing long-tail disease claims can benefit from Hill Dickinson s specialist insurance coverage tracing and claims handling service, DisCover. Our insurance tracing service has a proven track record. We have secured results that have saved our clients significant sums of money. Hill Dickinson s policy service delivered results, and with impressive speed and efficiency. David Forster, Risk Manager, Britvic Soft Drinks Limited 3

With the introduction of the Employers Liability Insurance Bureau imminent and the ABI and the Government actively promoting use of the Code of Practice for tracing EL insurance, brokers, insurers

4 How does disease liability affect my organisation? Is your organisation faced with: Potential asbestos or other longtail disease claims, such as noise induced hearing loss or hand/ arm vibration syndrome claims? Problems in identifying the historic insurance cover for such claims? Difficulties in identifying whether the responsibility for those claims has been inherited by the company? Problems in the investigation of such claims because of passage of time? DisCover has achieved a success rate of over 90% in tracing insurance cover Has your organisation or its predecessor(s) ever: Been involved in construction or manufacturing processes in which asbestos was used? Operated in premises which contained or may have contained asbestos in the fabric of the building, or on pipework or boilers? Used machinery or equipment which produced excessive noise or vibration, or which may have contained some asbestos? Owned fleet vehicles which required regular inspection and maintenance? If you have answered yes to any of these questions, DisCover can help. DisCover has resulted in damages and costs savings for our clients ranging from 40,000 to 400,000 4

Problems in identifying the historic insurance cover for such claims? Difficulties in identifying whether the responsibility for those claims has been inherited by the company?

5 HILL DICKINSON DISCOVER: HISTORIC INSURANCE COVERAGE TRACING SERVICE DisCover: a tried and tested historic coverage tracing and claims handling service DisCover can help your organisation: Save on costs and damages where investigation proves no liability Protect brand and reputation where your organisation is found not liable Maximise the time to build a defence through early and properly targeted investigations Remove the burden of investigating and handling long-tail claims from your in-house resources Avoid inheritance of uninsured liabilities through company mergers/acquisitions DisCover involves: Tracing of missing EL/ PL insurance cover Investigation of transfer of liabilities along the corporate succession chain Identification and location of relevant witnesses Efficient and proactive handling of claims Pursuit of appropriate contribution claims DisCover delivers results through: Meticulous scrutiny of evidence and documentation Proactive handling of claims led by a team of recognised disease lawyers Exploitation of extensive contacts in the insurance and broking industries Access to our vast database relating to previous disease claims Pricing to suit you DisCover is available in various pricing structures (including fixed and capped fees). Our approach to pricing is flexible. Fees include the full tracing service from instruction to settlement. 5

targeted investigations Remove the burden of investigating and handling long-tail claims from your in-house resources Avoid inheritance of uninsured liabilities through company mergers/acquisitions

6 Case studies Full insurance history established on living mesothelioma claim 300,000 saving on damages 140,000 saving on costs Insurers identified and indemnity eventually secured 150,000 saving on damages 75,000 saving on costs Insurance cover confirmed for mesothelioma claim 150,000 saving on damages 80,000 saving on costs We were instructed by the liquidators of an insolvent company. There was no established insurance history when instructed. Our investigations identified the full insurance history, enabling us to secure funding from the interested insurers. 95% of insurance history uncovered to rebut mesothelioma claim 150,000 saving on damages 50,000 saving on costs Our investigations identified eight witnesses who were colleagues of the claimant in the 1970s. Their evidence was crucial in mounting a successful defence. Discontinuance of the claim was secured, with the defence costs being met by the traced insurers. Our clients received an isolated mesothelioma claim. They knew the identity of the insurers at the time of exposure, but had no policy information. Enquiries revealed that the company was no longer in existence. Painstaking investigations finally led to the tracing of an existing insurer who accepted inheritance of responsibility for the liabilities of the defunct insurance company. The defendants thought they knew the identity of the interested EL insurers, but the insurers refused to confirm cover. Our enquiries into the insurance history involved an interview with a representative of the insurer who had placed the insurance policy. This evidence forced the insurer to finally accept cover. Corporate liability redirected on asbestos claim 25,000 saving on damages 20,000 saving on costs Exposure was alleged with a company in the 1960s. Our investigations revealed that an apparent link between that company and our defendant client did not, in fact, exist. The claim was therefore redirected to the correct successor company. 46

There was no established insurance history when instructed. Our investigations identified the full insurance history, enabling us to secure funding from the interested insurers.

7 HILL DICKINSON DISCOVER: HISTORIC INSURANCE COVERAGE TRACING SERVICE Contact To discuss how DisCover can make a difference to your organisation s long-tail claims, please contact: David Dunne Partner david.dunne@hilldickinson.com +44 (0) Lisa Fletcher Partner lisa.fletcher@hilldickinson.com +44 (0)

claims, please contact: David Dunne Partner david.dunne@hilldickinson.

8 About Hill Dickinson The Hill Dickinson Group offers a comprehensive range of legal services from offices in Liverpool, Manchester, London, Chester, Sheffield. Piraeus and Singapore. Collectively the firms have more than 1,300 people including 190 partners. The firm is a major force in insurance and well respected in the corporate and commercial arena. It has an award-winning property and construction practice and is widely regarded as a leader in the fields of professional risks, commercial litigation, intellectual property and wealth management. The firm s marine expertise is internationally renowned with one of the largest marine practices in the world. Liverpool Manchester London Chester Sheffield Piraeus Singapore

It has an award-winning property and construction practice and is widely regarded as a leader in the fields of professional risks, commercial litigation, intellectual property and wealth

OUTLOOK: PERSPECTIVES ON TOPICAL RISK AND INSURANCE ISSUES FOR UK CORPORATES

June 2013 MARSH INSIGHTS: OUTLOOK: PERSPECTIVES ON TOPICAL RISK AND INSURANCE ISSUES FOR UK CORPORATES Over recent months we have profiled several developments in relation to insurance claims specifically