Flaster Greenberg shareholders John Koch, General Counsel and a member of the firm’s Insurance Counseling and Recovery Practice Group, and Nicole Josephy, a member of the same practice group based in South Florida, were featured in a recent article discussing common insurance coverage gaps that can leave businesses unexpectedly exposed when claims arise.
The article, “A Company Learned Its Core Business Was Excluded From Its Insurance on Page 65,” highlights insights shared by Koch and Josephy during Flaster Greenberg’s sponsored In-House Connect webinar, “Mind the Gap: What In-House Counsel Need to Know About Insurance Coverage and Risk.”
Drawing on decades of experience representing policyholders, Koch emphasized the importance of closely reviewing insurance policies to ensure that core business operations are not excluded from coverage and that all relevant entities are properly named as insureds. As he noted, the most problematic coverage gaps are often the ones organizations do not realize exist until a claim is denied.
“You think you have coverage, but you don't. That is the ugly one,” Koch said.
The article also highlights Josephy’s guidance regarding claim notification procedures. She stressed that companies should notify insurers as soon as possible after a loss rather than waiting until the full extent of damages is known.
“The safer practice is to provide notice early, and then supplement the information as the damages become more extensive,” Josephy said.
The feature explores several common pitfalls that can create significant coverage issues, including exclusions buried within policy language, incomplete insured entity listings, and delays in providing notice to carriers. Together, Koch and Josephy offered practical guidance to help in-house counsel and business leaders proactively identify and address these risks before they become costly disputes.
Read the full article (subscription/paywall access may be required):
https://inhouseconnect.org/resource-center/news/a-company-learned-its-core-business-was-excluded-from-its-insurance-on-page-65/
