Fortune 500 Manufacturing Conglomerate
IAG’s client faced a multi-million dollar exposure in clean-up costs for the operations of an old mining company. IAG located an underground storage area at a former mine and activated a lift not used in decades. A reference in an accounting record contained a policy number with a 3 digit prefix code which IAG identified as a London broker’s code for a Lloyd’s policy. IAG was able to obtain brokers slips and policies documenting $200 million of primary and excess coverage.
A Northeast municipality needed to locate 2 years of liability coverage for specific tort litigation. By cross referencing City Council resolutions, IAG was able to strategize the review of city manager files and council meeting files. The city maintained thousands of boxes of records and in just 2 days IAG staff located the key liability policies.
Building Supply Company
After years of M&A activity, the client faced asbestos litigation for multiple predecessor companies. These operations were decentralized and many remained in their original buildings. IAG conducted reviews at the former headquarters of each legacy company and at the local offices of former outside counsel and brokers adding over $1 billon to the client’s insurance portfolio.
Insurance policies and secondary evidence were located under liturgical music in a hall closet, at far flung retreat centers and in files related to annual fundraisers for a high school. IAG documented over 25 years of coverage to respond to allegations of sexual abuse dating back to the 1960s.