Wednesday, November 16, 2005
With businesses subject to the ever-increasing risk of damages from “long-tailed risks” -- harms that can arise decades after the act that caused them -- it’s often important to figure out what insurance policies were in force in, say, 1942 for a plant that may have closed in 1955. Hardly anyone keeps documents that long, but the need to try to tap those old insurers has led to the rise of “insurance archaeologists,” modern Lara Crofts who do their tomb raiding in the dark corners of the business world in search of lost policies. (Image: Wikipedia)
Lawyer David F. Klein of D.C.’s Swidler Berlin LLP describes their rise in Indiana Jones and the Lost Insurance Policy: Adventures in Insurance Archaeology.