Businesses in the cannabis industry face unique risks and requirements that impact the types and amounts of coverage needed. The market for insurance may be limited. Policy language must be carefully reviewed and negotiated to protect against illusory coverage. And, in the event of an insurance claim, policyholders must be prepared to counter certain coverage-defeating arguments that insurers have specially tailored for this industry.

*Note: We are only able to provide these services in jurisdictions where ethically permitted, and reserve the right to withdraw representation if the federal government indicates that providing such legal services as described above violates federal law. 

Are you maximizing your insurance coverage for lawsuits brought against your company? If your company has been sued by a third party for property damage, personal injury or certain torts such as libel or slander, CGL policies may pay for your company’s defense costs as well as the costs of any settlement or judgment. CGL insurance policies present myriad issues both at the front end, when you are purchasing coverage and later, when you need to access that coverage. Our experienced insurance coverage lawyers will navigate and counsel your company through these issues.

The worst way to find out that you don’t have coverage is after a claim arises. By working with experienced counsel to get favorable language included in your insurance policies, you can avoid expensive and risky coverage battles. An upfront investment in coverage placement advice from Reed Smith can save your company millions. When we conduct a coverage audit, we combine our knowledge of your operations with our extensive experience to identify potential gaps and coverage issues and then propose commercially practical solutions to help you maximize your insurance assets.

To aid in coverage audits, our insurance coverage lawyers have created a unique repository for insurance policies collected during the course of four-plus decades of experience in the industry. The database uses artificial intelligence to review, analyze, and compare data contained across hundreds of policies. It also streamlines the policy review process, reducing time and costs and allowing our attorneys to better negotiate the best coverage terms, “push the envelope” on coverage enhancements and offer other data-centric solutions.

Reed Smith’s insurance coverage lawyers are at the forefront of litigating novel coverage issues arising from the COVID-19 pandemic. We are advocating for a variety of companies in relation to COVID-19 insurance issues, including seeking coverage under property insurance, business interruption, contingent business interruption, civil authority, pollution insurance, event cancellation, workers compensation and general liability insurance coverages.

Our insurance coverage attorneys are thought leaders in this area and have been instrumental in shaping the narrative surrounding pandemic-related business interruption claims, working with United Policyholders to draft amicus briefs advocating key policyholder arguments.

Reed Smith offers a resource page that provides comprehensive access to our firm’s breadth of expertise in addressing the COVID-19 crisis. This includes prominently our insurance recovery strategies for accessing insurance resources to pay for losses and liabilities arising out of the global outbreak of COVID-19.

Insurance protection for directors and officers is often one of the most sensitive insurance purchases for a business. We have a long record of helping clients like you and your brokers assess options, identify gaps, recommend enhancements and craft endorsements or manuscript policies. In the event of a claim, we help analyze potential avenues to coverage, present claims in the most advantageous way, and then aggressively negotiate to secure coverage for the claim. We are often able to resolve disputes, including outright coverage denials, without filing suit, but will pursue your claim effectively and efficiently in court or arbitration if necessary.

Whether employee claims are your largest exposure or such claims are relatively rare, EPL insurance can effectively mitigate your risk. At Reed Smith, we work to prevent damage from such claims by first ensuring the coverage you choose is as broad as possible and provides the flexibility you require, whether in selecting counsel or authorizing settlements. Then, if claims do arise, we assist you in maximizing coverage for defense costs as well as settlement and potential judgments.

The environmental, social, and corporate governance (ESG) movement has given rise to a number of emerging risks and insurance issues. From shareholder lawsuits accusing publicly-held companies of failing to diversify their boards to environmental coverage claims and climate-change lawsuits, ESG-related litigation is on the rise. Moreover, extreme weather events have prompted an uptick in property damage, civil and political unrest, and supply chain disruption claims. The global risk market is in the process of re-evaluating the financial effects of ESG claims as the frequency and size of these losses increase.

Our insurance coverage attorneys advise policyholders on the evolving ESG landscape, assist clients with ESG-related insurance concerns, and help corporate policyholders review their insurance and risk management programs to better address emerging ESG risks. We also have broad experience in resolving disputes over whether and how ESG claims are covered under existing insurance programs. We have successfully helped clients navigate coverage through novel climate change litigation and obtained recoveries in key areas such as environmental liabilities, asbestos-related claims, and other toxic torts. Our attorneys work with some of the world’s largest energy companies concerning the impact of climate change on their businesses, helping to protect them using insurance and other strategies.

In the competitive and ever-changing environment in which health care providers find themselves, having experienced insurance counsel is paramount.  We understand your risks and risk management options, including third party insurance and captive programs.  We can help you analyze your coverage gaps and work with your brokers on the best options to fill them.  You spend substantial amounts on managing risks of all kinds; you should know that what you spend on insurance is spent wisely and that when claims come in, you have the best lawyers to assist you in preparing, negotiating and, if need be, litigating to get the coverage you paid for.  

Reed Smith’s hurricane insurance coverage lawyers in Miami and throughout the firm have a thirty-year track record of helping policyholders recover for property damage, business interruption, and other losses after a hurricane.

Insurance recoveries can help companies get back to business and enable individuals to recapture some semblance of normal life. Together with government assistance programs, such as FEMA recoveries and Small Business Administration loans, accessing flood insurance, commercial property insurance, business interruption insurance, and lost rental insurance coverage is part of a broader effort to pull together the necessary resources to recover and rebuild.

Reed Smith’s Insurance Recovery Group has helped people and businesses recover from natural disasters for decades, earning a reputation as an international leader in insurance recovery in the process. In Florida, that effort began with Hurricane Andrew, which made a historic landfall on August 24, 1992, and has since included every significant named storm in Florida, the Eastern Seaboard of the United States, and the Caribbean. Over the years, we have helped policyholders recover hundreds of millions of dollars of windstorm losses.

Insurance is an important piece of the portfolio of assets of any life sciences company, but as you know, the variety of policies – product liability, directors and officers, cyber, clinical trials, property, crime and fidelity – may seem endless and overwhelming.

Our insurance recovery lawyers have the breadth and depth of experience to provide the answers you need.  We represent clients like you in all facets of the life sciences industry, on everything from policy review, formation and renewal questions to contract review, analysis of insurance assets in M&A due diligence, presenting and resolving claims (including advocating for coverage), and negotiating disputes. When necessary, our team will litigate and arbitrate on behalf of your company to work toward your desired outcome.

Given the global nature of the life sciences industry, we are uniquely situated to address insurance issues wherever they arise.

Many policyholders with international footprints purchase specialized coverage to protect their personnel, assets, and investments from political risks, as well as from the risk of kidnap and ransom. These policies are particularly prevalent in politically risky parts of the world, but they are not limited to these regions. Events that trigger coverage may include adverse government actions like asset confiscations, nationalization of property, or significant or discriminatory regulatory changes, and some policies are designed to protect an expatriate workforce, to assist in crisis management, or to pay for costs and interruptions resulting from war, terrorism, riots, and strikes.

These claims are typically complex and require legal analysis, valuation of damage and loss, and forensic estimation of lost revenue. Frequently, the policies require resolution of disputes in international arbitration. Reed Smith’s Insurance Recovery Group is experienced in these areas and has significant international arbitration experience in Latin America, Singapore, London, Paris, New York, Bermuda, and other locations across the globe.

Reed Smith has an interdisciplinary disaster response team that springs into action when there is a wildfire, hurricane or other natural disaster. Insurance recoveries help businesses get back to business and enable individuals to recapture some semblance of normal life. We look at insurance as part of a broader effort to pull together the necessary resources to recover and rebuild, which can include accessing flood insurance, property insurance, homeowners’ insurance, and business interruption insurance, as well as FEMA recoveries and Small Business Administration loans, and addressing mortgage and rental issues.

We have helped policyholders large and small in the aftermath of the California wildfires. Other disasters call for a similar response, and our lawyers were there to help businesses recover from the events of September 11 and are assisting clients with the COVID-19 pandemic.