At A Glance
- This Alert Affects
- Businesses who were sued and had their claim covered by their insurance company even though it was not their fault. Also, businesses that had an insurance claim involving damaged property that was kept by their insurance company and likely sold for salvage.
- Potentially, businesses with these types of insurance claims may be entitled to monetary damages.
- All commercial insurers
- Additional Details
- Often insurers will sell salvaged property, or subrogate liability claims and win, and not update the loss history for an insured policyholder, so they over-pay for insurance for years.