There is no specific insurance curriculum taught in law schools, yet many 1st, 2nd, and 3rd year Associates are defending insurance professionals. Many young associates may not understand the difference or significance between an Admitted Insurer vs a Non-admitted Insurer, nor the daily operations of an insurance company, broker, MGA/MGU, or claim department. This is something often learned solely by osmosis as one handles cases. Over time, one learns what one needs to know, a process that could be 5 to 10 years.

By the end of this session, attendees will gain a better understanding of how the world of insurance operates. In one hour, a new lawyer will learn what it took their peers years to learn as they handled insurance cases. At the end of this session, you should be able to:

• Describe claim department organizational models
• Describe the product distribution models that are in use, including how they can impact the claims process
• Analyze reserve setting procedures, the ramifications of diminishing limits policies, and communication with Re-Insurers
• Define and use critical insurance terms, such as Expense to Loss ratios, Loss Runs, and Claim Audits, Quote to bind ratios, submit to quote ratios, and more

We consider the education of everyone in the insurance realm of the utmost importance. That's why we are grateful that we can present this session that is meant specifically for lawyers engaged in insurance.