PROGRAM ADMINISTRATOR & RUN OFF

Stone & Johnson has worked with trade and industry groups, brokers and agents and insurance underwriters in putting together insurance programs, in particular in the construction and heavy equipment area. While programs in these high risk areas have experienced poor underwriting results in the past, Stone & Johnson has worked to develop and implement a system for the insurance programs that they have been involved in, that has helped alleviate some of the problems faced in insurance programs for high risk areas. This system consists of:

• Enhanced contract and lease terminology to maximize the potential for risk transfer;
  Aggressive on-site investigation;
  Formalized program for early dispositive motions; and
  Coordination of litigation activities.

Implementation and coordination of these key areas can provide unique opportunities for early resolution of litigation on behalf of program members and for defense and indemnity cost containment for claims that must be litigated. The program is designed to benefit both the loss history of insured’s and to protect the interests of the underwriters.

Stone & Johnson has been integrally involved in the run-off of domestic property & casualty underwriters. Also, Stone & Johnson has also worked with various Departments of Insurance and assisted those Departments with companies in rehabilitation and liquidation. Attorneys from the firm have not only assisted in directly handling claims for companies in these situations, but have overseen claims on a national basis for companies in run-off. Further, Stone & Johnson attorneys have developed expertise in the insurance regulation such that they have been able to work successfully with the Insurance Departments of states that have taken over carriers and have been able to assist in preventing companies in run-off from being placed in rehabilitation or liquidation. Stone & Johnson has been able to provide these companies with advice on how to properly reserve and adjust losses to protect underwriting results and policy holder surplus, thereby minimizing losses or maximizing profits for companies in run-off or insolvency.