CONTINGENT LIABILITY SOLUTIONS
Contingent Liability policies insure against the unknown future outcome of known risks. The policies are most often underwritten to address litigation risk or the perceived threat of future litigation. The underwriting process for Contingent Liability policies is intensive and typically requires a lengthy evaluation.
BlueChip’s underwriting process for Contingent Liability involves the following factors:
- We will conduct an independent legal review in each case before deciding whether to offer coverage terms.
- BlueChip requires access to all underlying pleadings, briefs and discovery where necessary to our underwriting process.
- We must have the ability to interview the proposed insured and its counsel.
- Our preference is for risks where there is ample litigation data and that are subject to benchmarking by qualified experts.
- The proposed insured must have a separate business purpose or motivation for seeking the Contingent Liability policy.