Canadian Underwriter
News

Marsh Ltd. cautions clients that excess liability carriers are adding Deepwater Horizon policy exclusions


July 7, 2010   by Canadian Underwriter


Print this page Share

Certain excess liability carriers are expected to add broadly worded, event-specific exclusions to their 2010-2011 policies to prospectively eliminate coverage for the Deepwater Event, according to an online posting by Marsh Ltd.
“Although Marsh is engaged in discussions with these carriers in an attempt to withdraw or narrow these exclusions, this is an emerging market trend that raises concerns for Marsh clients with respect to their 2009-2010 policies and, specifically, questions about whether circumstances or claims should be notified now,” Marsh says in its post.
Certain policies with pollution exclusion carve-out coverage contain time element provisions that require written notice directly to the carrier within the time frame dictated by the policy(ies), Marsh notes.
“For example, a strict reading of an 80-day notice provision with respect to the Deepwater Event would require written notice be provided to the carrier before 5:00 pm EDT, July 8, 2010,” the post says.


Print this page Share

Have your say:

Your email address will not be published. Required fields are marked *

*