Insurance expert witnesses may opine on insurance practices, insurance claims, and insurance coverage. Here, insurance experts from Anderson Kill Wood & Bender write:
Should I Stay or Should I Go?, Experts Offer Advice on Changing Carriers and/or Brokers Every year as renewal day approaches, companies are faced with a difficult decision: do they renew with their incumbent insurance companies, or do they risk changing carriers to take advantage of lower rates, broader policy language or coverage add-ons? But the truth is, insurance carriers and brokers are helping businesses reach that decision every day of the year with their execution, their knowledge and their business practices.
With the soft market in insurance and the underlying economic unsteadiness of many carriers, there might never have been a time when so many companies are willing to question whether it is time to change insurance carriers or brokers. Even decades-long relationships can be tested in times such as these. And what if the incumbent carrier is exiting the market or unwilling to renew for another reason? Policyholders must move cautiously and comprehensively to avoid a lapse or gap in coverage.
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