Articles Posted in “Other Insurance”

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GettyImages-182494032-205x300Judgment Preservation Insurance (JPI), also sometimes referred to as Judgment Protection Insurance, has become both more requested and available in recent years. As more plaintiffs seek ways to protect court judgments, more insurers are prepared to assume the risk of insuring such risks and so have entered the market and expanded capacity. As a result, what was formerly a niche insurance product has, of late, been more widely discussed and considered by prospective policyholders, raising the question of whether your company should consider JPI if you win a substantial sum in a trial court.

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detailsAs the old adage goes, “the devil is in the details.” Insurance policy terms do not always apply in ways that policyholders expect. For this reason, it is imperative to understand how coverages, definitions and exclusions work together to avoid surprise gaps in coverage. The Fifth Circuit found a coverage gap in a recent case holding that settlement contributions from co-defendants met an excess policy’s broad definition of “Other Insurance,” preventing the policyholder from securing coverage for a significant part of its losses.

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