Insurance
Apr. 13, 2012
Insurance can cover punitive damage claims
It's often claimed that you cannot insure for punative damages, but that's not the truth of the matter.
Kirk A. Pasich
Partner and Co-Leader of the Insurance Recovery Group
McGuireWoods LLP
Phone: (310) 956-3462
Email: kpasich@mcguirewoods.com
Loyola Law School
There is a rubric frequently repeated by insurers: You cannot insure for punitive damages. However, that simply is not often true. The prevalent standard form general liability insurance policy does not contain an exclusion for punitive damages. See Commercial General Liability Coverage Form (ISO Properties, Inc. 2006). Absent an exclusion, insurers are left to argue that "public policy" prohibits coverage for punitive damage awards. In support of this position, they rely on California I...
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