Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Retrospective Premium Policies: What Happens in Bankruptcy?
Retrospective premium policies allow premiums to be adjusted over time and thereby reflect the loss experience of the policyholder. When a policyholder files for bankruptcy, the existence of retrospective policies raises unique issues. First, is the insurer relieved from liability where the policyholder has failed to pay retrospective premiums? Second, how is an insurer's claim for retrospective premiums classified in the bankruptcy process? This article surveys the prevailing law on these issues.
Background
Retrospective premium policies originated as a way for insurers to shift some risk to policyholders and thereby reduce costs. Generally, under such policies, the insurer charges an initial estimated premium at the beginning of each policy period, called the “deposit premium” or “standard premium.” Six months to a year after the policy expires and annually thereafter, the insurer recalculates the premium based upon the actual claims experience of the policyholder. If the policyholder has few claims, its premiums will be low (and may result in a refund); if there have been many claims, the premiums will be high. By setting premiums retroactively, based upon the policyholder's actual loss experience, insurers can charge less up front. Retrospective premiums have been most commonly used in fields where neither the insurer nor the policyholder is able to accurately predict risks, such as comprehensive general liability and worker's compensation. See generally, Mark G. Ledwin, The Treatment of Retrospectively Rated Insurance Policies in Bankruptcy, 16 Bank. Dev. J. 11 (1999).
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.