Skip Ribbon Commands
Skip to main content
symbol

RIMS


RIMS REPORT: A Risk Management Guide to Reservation of Rights 2/9/2017

 

Organizations Realize Value of Insurance by Implementing Swift and Informed Responses to Reservation of Rights Letters
 
NEW YORK (February 9, 2017) —  Understanding, anticipating and properly responding to reservation of rights letters is integral to risk professionals’ ability to protect their organizations and realize the full value of insurance policies, according to a new RIMS Professional Report titled, A Risk Management Guide to Reservation of Rights. 

Developed by members of the RIMS Standards and Practices Council, the report guides risk professionals in understanding the potential implications that reservation of rights letters pose. The report explains the background of these notifications and discusses what to consider when deciding if, when and how to respond. It includes examples of reservation of rights and response letters, while exploring issues regarding claim limitations, communications strategies, litigation, and potential conflicts of interest. 

“It may be surprising when a claim is reported, and an insurer sends the policyholder a reservation of rights letter, potentially limiting coverage,” said RIMS Vice President of Strategic Initiatives Carol Fox. “Knowledgeable and prepared risk professionals can make all the difference in getting the full value from an organization’s insurance policies.”
 
A Risk Management Guide to Reservation of Rights report is available in RIMS Risk Knowledge library at www.RIMS.org/RiskKnowledge.  For more information about the Society and to learn about other RIMS educational opportunities, conferences and resources, visit www.RIMS.org.  

# # #

About RIMS

As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

​ ​

For more information, contact:

Josh Salter, RIMS communications manager, (212) 655-6059 or jsalter@RIMS.org

POPULAR TOPICS


RIMS MARKETPLACE

Access the most comprehensive directory of solution providers for risk professionals.

myCOI

myCOI's suite of products provides you with the right solution to simplify the tracking process and minimize your risks of an uninsured claim and costly litigation...

RWH Myers

RWH Myers is committed to helping policyholders through business interruption and property damage claims, efficiently and accurately...

Navigant

Navigant represents policyholders in the analysis of losses and preparation of complex insurance claims...