Our attorneys have extensive experience handling first party property insurance matters involving complex physical damage and time element claims arising under policies issued to Fortune 500 companies, small and medium-sized commercial insureds, and homeowners. We have a broad base of knowledge of the standard ISO first party forms and the binding authority arrangements used by many of our clients in placing first party types of business.
We counsel insurers on matters arising out of relationships with coverholders and Managing General Agents including review and auditing of policies and binding authorities, handling of claims arising under those policies, analyzing and enforcing the duties and responsibilities under the binding authorities, and preserving potential rights of recovery when settling claims with insureds. Walker Wilcox attorneys have been seconded to Lloyd’s syndicates, giving them a unique understanding of the challenges our clients face.
We are entrusted by clients to represent their interests in many of the most significant CAT losses. For example, we represent insurers in mass action and individual homeowner and commercial property lawsuits arising from Hurricanes Katrina and Ike including the Master Consolidated Class Action and Attorney General Road Home litigation filed in Louisiana federal court. In another example, we settled on favorable terms a physical damage and time element claim alleging contingent business interruption, extra expense and the impact of governmental restriction, valued in excess of $300 million involving a major U.S. metals manufacturer arising out of an explosion at a Louisiana plant.