Made with FlowPaper - Flipbook Maker
JULY 2022 FURTHERING THE HIGHEST STANDARDS OF CLAIMS AND LITIGATION MANAGEMENT Anticipating NFT Challenges and Risks Understanding Layers of Liability in Bad Faith Handling Employee-Involved Auto Accidents THE U.S. SUPREME COURT VERDICTS THAT COULD AFFECT INSURERS REVIEW UP FORIN THE AFTERMATH OF A FIRE OR EXPLOSION, YOU NEED TO KNOW rimkus.com• 800.580.3228 World-class. Global reach. YOU HAVE QUESTIONS. WE PROVIDE ANSWERS. Was it a system malfunction? Human error? Or incendiary? In the aftermath of a fi re or explosion, the questions are inevitable. To the untrained eye, the answers can be as elusive as they are critical. Rimkus forensic investigators are experts at piecing together the charred remains of such devastating events to determine the origin and cause of fi re and explosions. Our teams have done it thousands of times. If you’re facing a complex forensic challenge of any kind, count on us to uncover the facts. THECLM.ORG/MAGAZINE CLM MAGAZINE 3 CONTENTS CLM MAGAZINE JULY 2022 22 UP FOR REVIEW The U.S. Supreme Court verdicts that could affect insurers 26 NFTs ARE HERE TO STAY How to anticipate the challenges and risks of this emerging and volatile asset class 30 HANDLING EMPLOYEE- INVOLVED AUTO ACCIDENTS Balancing restaurant needs with personal risk 36 READY TO TAKE THE PLUNGE? Dive into Claims College’s three-year designation process by testing out of level one 37 BETWEEN THE LINES “What’s on your summer reading list?” 38 WEBINARS Casting anchors at trial and in negotiations 39 EVENTS Upcoming events, chapter activities, and webinars 40 NATIONAL News and verdicts that affect you from across the country 42 VOICES Getting to know Beazley’s Beth Diamond FEATURES 4 FRONT DESK Make way for women 6 CHAT ROOM CLM editors text it up 8 EXPOSURE Flooding closes Yellowstone 10 A TOXIC TALE OF EXPOSURE Our most-memorable claim series returns with a story on asbestos litigation 14 COMING SOON TO A SETTLEMENT NEAR YOU An update on Medicare Set-Asides in liability claims 16 LAYERS OF LIABILITY Bad faith and the interplay between primary, excess, and umbrella coverages 18 WHOSE PARTY IS IT? What claims professionals should know about non-party discovery served directly to insurers COLUMNS AROUND THE CLM 22 26 30 10 18 36 42 374 CLM MAGAZINE JULY 2022 VP OF CONTENT Eric Gilkey SENIOR MANAGING EDITOR Phil Gusman CONTRIBUTING EDITOR Fran Clark ART DIRECTOR/ PUBLISHING OPERATIONS MANAGER Jason T. Williams EDITORIAL QUESTIONS Eric Gilkey eric.gilkey@TheCLM.org CHIEF EXECUTIVE OFFICER Ronna Ruppelt VP PARTNERSHIPS Jeremy Campbell SENIOR SALES REPRESENTATIVE Bryan Pifer ACCOUNT EXECUTIVE Megan Josd ADVERTISING QUESTIONS Jeremy Campbell jeremy.campbell@TheCLM.org 513-377-7228 JULY 2022 • ISSUE 7 • VOL. 6 REPRINTS For reprints and licensing please contact Jeremy Campbell at jeremy.campbell@TheCLM.org or 513-377-7228. CLM Magazine is published monthly and covers news and topics of interest to insurance claims, risk, and litigation management professionals. Copyright © 2022 by the CLM. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the CLM. The views expressed in the articles are solely those of the authors or those interviewed and do not necessarily reflect the views or opinions of CLM or the companies in which the authors are employed. A publication of It’s no big secret, I am a baby boomer. Back in 1980-something, I was the first of two women attorneys in the 45-attorney law firm where I practiced. I then insisted on working a few hours a week while I was on maternity leave because I felt like I couldn’t “slack” since I had been recently promoted. As I progressed through my career, there were few female leaders to look to for inspiration, guidance, or support. I didn’t have a female manager until I was in my forties. These tacit signals told me that I needed to work harder than my male counterparts in order to advance— and I wound up spending much of my career living to work instead of working to live. There has been a lot of change in the past 30 years, but there is still a broken rung in the ladder causing an imbalance. Women are still promoted at lower rates than men, and women of color represent only 4% of C-suite leaders. Add in pandemic stress, and the complexities of balancing life and work in its wake, and it’s no wonder that women are burned out, frustrated, and considering what to do next. FRONT DESK Over the past few weeks, I’ve spoken with some of the nation’s most respected thought leaders and insurance industry executives to get their insights on what women need right now—and what steps organizations must take to recognize and reward them to impact sustainable change. It’s been an inspiring experience, and I’m so grateful to bring these viewpoints to you during our Women’s Forum on Nov. 2-3, 2022, in Washington, D.C. Among a dozen amazing speakers, we’ll be featuring the authors of McKinsey & Company’s “2022 Women in the Workplace Report.” To achieve equity, men and women must both advocate for it—so this event is for everyone, regardless of gender. I hope that you will join us. All the best – Ronna Ruppelt CEO ronna.ruppelt@TheCLM.org LinkedIn.com/in/ronnaruppelt P.S.: You can find the complete speaker lineup at theclm.org/womensforum. Make Way for Women 2021 AWARDS FOR PUBLICATION EXCELLENCE WINNER CLM (ISSN XXXX-XXXX) is published monthly 12 times a year by CLM, a member company of The Institutes, 2 South University Drive, Suite 100, Plantation, FL 33324. Application to mail at Periodical Postage Prices is Pending at Plantation, FL, and at additional mailing offices. Postmaster: Send address changes to CLM, 2 South University Drive, Suite 100, Plantation, FL 33324. Allow four weeks completion of changes. Advertising and editorial deadline is the first of each month preceding issue date.CATASTROPHE SERVICES For further information regarding our Catastrophe Services please contact: Always Where You Need Us Catastrophic events present unique challenges when it comes to loss handling. CIA can quickly mobilize and deploy a team of experienced adjusters to any location nationwide. These trained adjusters will handle your files swiftly, while not compromising estimate accuracy. Let the Custard CAT Division give you the competitive advantage this storm season. Jason Willis CATASTROPHE MANAGER jwillis@custard.com 678.304.3407 Michelle Antinucci NATIONAL PROPERTY BDM mantinucci@custard.com 407.792.8767 www.custard.com888.CUSTARD6 CLM MAGAZINE JULY 2022EXPOSURETHECLM.ORG/MAGAZINE CLM MAGAZINE 9 FLOODING CLOSES YELLOWSTONE In this aerial view, flooding is seen on June 14, 2022, in Livingston, Montana. The Yellowstone River hit a historic high flow from rain and snow melt from the mountains in and around Yellowstone National Park, washing away roads and bridges, damaging numerous homes, and isolating several small towns. PHOTO BY WILLIAM CAMPBELL/GETTY IMAGES PHOTO BY SAMUEL WILSON-POOL/GETTY IMAGESNext >