Let's begin by sharing the results of efforts to obtain participation and contribution from other carriers toward settlement. For purposes of these examples, assume that the underlying tort claim is settled.
The first example involves a typical situation in which your policyholder is a general contractor and builder. Your policyholder contracted with a claimant to construct a custom home. Geological testing is not performed, and the home is built atop an underground spring. In due course, structural damages become manifest.
You may not be able to identify the applicable coverage trigger in the given jurisdiction. Unless you can do so without help, we recommend that you assign coverage counsel to assist you with their advice and recommendations. Furthermore, even when your initial investigation is in progress, consider mailing tender letters to all other liability insurers that came on the risk before your policy incepted and after your policy terminated.
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