Distressed retailers are at risk of failure or severe injury due to the COVID-19 pandemic. Retail panel counsel law firms in the insurance defense sector will want to accelerate their business development to mitigate revenue risk associated with the coronavirus threat. Listed below are a few of the leading national retailers that are in the […]
News of Interest to AIG Panel Counsel Members
AIG (American International Group, Inc.) filed its Form 10-K for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission on February 21, 2020. AIG panel counsel members may want to review the document to learn about AIG’s 2019 results as well as future initiatives, particularly in regard to the U.S. property […]
Coronavirus Law Firm Marketing Plans
Strong communications between law firms and their clients are particularly important during this COVID-19 pandemic. As a business owner myself and a law firm marketing consultant, I thought it might be helpful to suggest some guidelines on how to build an effective coronavirus law firm marketing plan for communications. #1. The “What,” “When,” and “How” […]
Allstate to Retire Esurance Brand
Esurance—the Allstate unit that sold its first policy online in 1999 and now offers car insurance in 43 states, plus homeowners, renters, and motorcycle insurance—is being phased out in 2020 as a separate brand. Technology has been at the core of the Esurance brand, with a focus on helping policyholders do things quickly and easily […]
Asbestos Claims Prompt Bankruptcy by Owens-Illinois Affiliate
Paddock Enterprises LLC, an affiliate of Owens-Illinois Group Inc., voluntarily filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court in Wilmington, Del. on January 6, 2020 under the weight of thousands of asbestos claims alleging injury. The Wall Street Journal reported the news in a January 6 article titled, “Asbestos Costs Drive Owens-Illinois Affiliate […]
Lien Doctors Grow in Popularity
Lien doctors follow an arrangement similar to contingency fee arrangements used by plaintiff lawyers in the sense that lien doctors agree to be paid for the medical services they provide to injured accident victims after the victim’s lawsuit has wrapped up, according to a January 8 article in The Wall Street Journal titled, “Who Wins […]
Windhaven Insurance to Liquidate
Windhaven Insurance Company was ordered into receivership for purposes of rehabilitation by the Second Judicial Circuit Court in Leon County, Florida on December 12, 2019. The Florida Department of Financial Services is the court appointed Receiver for Windhaven. Windhaven Insurance Company was later ordered into liquidation, effective on January 6, 2020. The policy cancellation date […]
Travelers Ups Loss Reserves Due to Tort Awards
Loss reserves are being increased by some P&C insurance carriers as a result of “social inflation,” reports The Wall Street Journal in a December, 2019 article titled “A Specter that is Haunting Insurers.” High tort awards are one of several forms of social inflation. “Social inflation” is described by the Journal as “… an upward […]
Panel Counsel Growth with a Market Penetration Study
A market penetration study at the state level can help an insurance defense law firm answer the perennial question, “How Can I Get on More Insurance Panels?”. By “market penetration,” we are referring to an analysis that identifies which property and casualty (P&C) insurance companies have the leading market share positions within a state by […]
P&C Insurance Industry Mergers & Acquisitions
The impact of consolidation within the property and casualty (P&C) insurance industry on insurance defense law firms is best understood when looking at the number of insurance industry mergers and acquisitions that have taken place in the last five years, as listed below. In many instances the existing defense panel counsel program was consolidated at […]
