What is a Supplemental Legal Defense Insurance Policy?
Insurance companies protect themselves through the terms and conditions they put into the policies you purchase. They purposely limit coverage and add exclusions enabling them to deny claims. The final decision as to whether a claim or lawsuit will be covered by the insurance policy is strictly up to them.
A carrier will either deny coverage or defend a claim under a “Reservation of Rights”. This notifies the insured that the insurance company is still investigating the claim with the right to deny in the future. During this review, insurance companies look to find the policy exclusions or ambiguities to deny the claim.
BOLD’s Supplemental Legal Defense Policy provides comprehensive legal coverage. As soon as the primary insurance policy denies coverage, your BOLD Supplemental Legal Defense Policy will immediately do the following:
- Provide fast access to plan attorneys for legal advice.
- Provide total representation in litigation from beginning to end.
- Seek out coverage from your underlying insurer to include indemnification if possible.
- Protect your interests and follow your directions.
There is no better way to ensure the financial security of your community association or commercial property than adding a BOLD Supplemental Legal Defense Insurance Policy. Rely on us to enhance your insurance and risk management program, and enjoy complete peace of mind knowing you are fully protected and comprehensively covered.