Alycen Moss and Michael Handler of the Global Insurance Department present this one hour Cozen O'Connor webinar on Rescission. The rescission of an insurance policy is one of the most underutilized tools in handling insurance claims. If used properly, it unwinds the insurance transaction and the parties are restored to their position prior to the contract; it is as if the insurance contract never existed. Although rescission is primarily an equitable device, its use and scope is authorized by statute in most states. In situations where the insured has made material misrepresentations or fraudulently applied for a policy, it shields the insurer from unwarranted claims and unjust liability.
This webinar will discuss:
How to rescind
Waiver of rights to rescind
Common defenses raised by the insured
Litigation Strategies for rescission actions and responding to insured’s bad faith counterclaim
Attendees will include claim professionals and underwriting representatives affected by misrepresentations on insurance policy applications, who want to be informed about good faith investigations and decisions on whether and how to appropriately rescind or reform policies.
FL, GA, NC, TX approved for 1 CE Credit. 1 CLE credit approved in PA, NY and NJ. CLE pending in any additional requested states.