Devoted to Corporate Attorneys, Corporate Lawyers, and Corporate Counsel

The following is not meant to be legal advice.

In June 2007, Buchalter Nemer gave a free seminar in Palo Alto, CA on insurance policies.  The speaker advised that insurance policies were negotiable.  Those purchasing insurance, might consider not only the price, but also the scope of coverage.

Since a company may never know where a claim may occur, the speaker suggested obtaining an endorsement for worldwide coverage, which was usually available at no additional cost. 

In California, there is no coverage for punitive damages.  The speaker advised that if a policy covered punitive damages, it should specify that they are payable to the maximum extent allowed by law. 

The speaker said insurance companies were not all the same.  Saving money on premiums is not the only goal.  Sharing of loss was a coverage factor.  As a customer requesting to be added as an additional insured, for instance, the speaker said that there was no assurance a policy would cover a company though it had additional insured status.  To be sure of coverage, a company should review the policy.