Product Failures and Property Claims: Maximizing Subrogation Recoveries | PropertyCasualty360
Product Failures and Property Claims: Maximizing Subrogation Recoveries
Certain products in the home can catastrophically fail, leading to property loss. Some simple, yet crucial investigative steps will help insurers maximize recovery in such cases.
Editor’s Note: The following article is a summary of commentary provided by Jeffrey M. Zielinski and Richard J. Boyd, Jr., partners at Nelson Levine de Luca & Hamilton.
Missed subrogation opportunities can gravely impact an insurer’s overall profitability. However, discerning viable candidates for recovery is tricky business. When it comes to handling complex property claims, both adjusters and litigators must consider an array of factors and take various precautions, including staying abreast of the latest product recalls and vetting appropriate experts.