Some Additional Thoughts on Easing Late Notice Consequences under Renewal Policies
John McCarrick, Chair of the Financial Lines Group authored "Some Additional Thoughts on Easing Late Notice Consequences under Renewal Policies," a guest post published in the D&O Diary. John provided further thoughts on Kevin LaCroix's D&O Diary article "D&O Insurance: Continuity of Coverage as a Counter to Late Notice," where Kevin expressed a variety of opinions about claims notice issues arising in connection with D&O insurance renewals.
I was very interested to read Kevin LaCroix’s recent post on ways to better address and resolve issues of late notice that arise during renewal policy periods. To be sure, this is a difficult issue for all involved – especially given both the mutual investment of a multi-year relationship between the policyholder and its insurers, and the binary consequences (i.e., coverage or no coverage) of a coverage position based on late notice in these circumstances. And Kevin has done his usual excellent job of laying out a logical discussion of the issue grounded in both his decades of experience and the applicable law and policy language.