What does a risk manager do when facing a “bet the company” case? This is a question with which no firm wants to grapple. Occasionally, risk managers must confront the issue, but they do not go it alone. Instead they face it with an insurance company.
Dealing with insurers in such ticklish and high-stakes cases can be frustrating, so let's begin with a reality check about insurance:
All coverage contains exclusions. Insurance does not pay for everything. Liability policies require a showing of liability in order to pay. There is no duty to pay just because it is a “bet the company” case.
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