As I mentioned in my previous post, I served on a panel at at the Risk and Insurance Management Society’s 2008 Annual Conference on 4/30/08. The program was titled: “50 Tips on Business Litigation Coverage That Every Risk Manager Wants to Know.” Steven Brower, the leader of the panel, has kindly granted permission for me to use several of his tips in upcoming blog posts.

Steve is the best technology litigator I have ever known. You might ask: “What has that to do with business litigation coverage?” Well, it so happens that Steve is also an expert on insurance coverage issues. He issued coverage opinions and handled litigation for insurance companies from 1982 to 1998, and he has provided such expertise to individuals and businesses since 1992.

Please visit Steve’s website at http://www.sbrower.com

Tip #1 from Steve: Insurance Policies Are Negotiable.

Steve notes that: “Insurance policies are virtually always subject to modification (often without charge) upon negotiation. It is important to consider not only the price of coverage, but the terms.”

Experienced counsel, working with a savvy insurance broker, can get excellent coverage that is tailored to your company’s needs. Don’t just pick up the phone and ask a broker to get $5M of D&O coverage. Use the right professionals to get the best protection available.

Watch this space for more tips!