United States: How To Get The Best Insurance Coverage For A Growing Company (Video Content)

Last Updated: May 31 2016
Article by Mark Miller

In today's post, guest contributor Clarissa Cerda explains the steps that hyper-growth technology companies should take to make certain that they procure the best possible insurance. Clarissa's strategies for addressing the changing insurance needs of fast moving technology companies provide a road map for in-house counsel, CFO's, or anyone else tasked with procuring insurance for an organization. She recommends establishing an internal core team that is smoothly integrated with a set of outside professionals who understand emerging regulatory or legal challenges faced by the company.

In Clarissa's opinion, step one is to find a great broker that you can trust, and that you feel will advocate on your behalf, with the company's best interest in mind. She also wants a broker who understands that policy language is critical, and that aggressive multi-year negotiations are the only way to improve coverage over time.

Because the interpretation of policy language is purely a legal function, Clarissa also recommends utilizing an outside law firm. Her recommendation is that corporations look for a law firm that is highly specialized in this area of law, and she specifically recommends a boutique insurance recovery law firm having a sole focus of insurance recovery law. She doesn't believe that this type of work should be left in the hands of generalists or in-house legal teams.

These kinds of best practices for the procurement of insurance that Clarissa recommends here are rapidly becoming the norm.

At Miller Friel, we have an exclusive focus on insurance recovery law, with decades of experience in this narrow but complicated area of law.

Below we have included a transcript of the video:

How To Get The Best Insurance Coverage For A Growing Company

It's going to be up to each and every general counsel, the culture of their firm, and how they go about it. There is no right way and there is now wrong way.

The way that that I have found very useful over the years in my different positions as general counsel is, I look first to get a really good broker. A broker that I trust, a broker that I think is interested in the benefit of what benefits the company, and that helps me be aggressive in both getting the right premium for the coverage that we are getting, but also thinking outside of the box, and helping me convince the insurance companies that changes in their policies, or exclusions, should be part of the negotiation process.

That's what I look for in the broker, and how to do that part of the process. In order to be able to negotiate those advantageous provisions that you would like to see there for when something happens that you didn't expect, after all that why we buy insurance, you really need to have an insurance recovery specialist, someone in the law firm.

I like to look for someone who that's all they do. A boutique firm for me is the better way to go about finding an insurance recovery specialist, because that's all they do every day. Making sure that insurance recovery specialist is collaborative, able to fit in, play nice and work well with the brokers. Sometimes insurance recovery specialists, brokers feel they should be doing similar things, and I believe in having both.

I think the broker has a role to play, I think the insurance recovery specialist has a role to play. I think even the internal legal or finance department depending on where it is in your particular cooperation has a very important role to play.

One of the nice things of bringing Miller Friel on to your team to be a partner, and not just a one off partner but a long term partner is, they can help you with long term strategies on how to protect the company, how to insure for certain enterprise risk.

Sometimes where you want to get to is not something that you can achieve with a carrier in one year. And you need to develop the strategy of how to improve that coverage position year over year. With an insurance recovery specialist, they understand the way the industry goes, what they are likely to accept and what proofs you might have to offer in year one or year two to get to your end result in year three.

In a technology company, particularly a hyper growth company, your business model changes in the early days, month after month, every six months, it's a continually evolving innovative journey with hyper growth, and tech companies, usually. Your risks change, your risks change because you are often innovating, and you're adopting or implementing cutting edge technologies.

And you are skirting on the edges of new regulatory areas at the same time. So, trying to really understand what that risk might be, and how you insure for that risk is not something you can do with a generalist.

It's not something you can do with a jack-of-all-trades that you might have in-house. It really is something that requires the added perspective of an insurance recovery specialist, and I am happy to say that Miller Friel is exactly that kind of insurance recovery specialist.

Miller Friel, PLLC is a specialized insurance coverage law firm whose sole purpose is to help corporate clients maximize their insurance coverage. Our Focus of exclusively representing policyholders, combined with our extensive Experience in the area of insurance law, leads to greater efficiency, lower costs and better Results. Further discussion and analysis of insurance coverage issues impacting policyholders can be found in our Miller Friel Insurance Coverage Blog and our 7 Tips for Maximizing Coverage series.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

In association with
Related Video
Up-coming Events Search
Font Size:
Mondaq on Twitter
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Check to state you have read and
agree to our Terms and Conditions

Terms & Conditions and Privacy Statement

Mondaq.com (the Website) is owned and managed by Mondaq Ltd and as a user you are granted a non-exclusive, revocable license to access the Website under its terms and conditions of use. Your use of the Website constitutes your agreement to the following terms and conditions of use. Mondaq Ltd may terminate your use of the Website if you are in breach of these terms and conditions or if Mondaq Ltd decides to terminate your license of use for whatever reason.

Use of www.mondaq.com

You may use the Website but are required to register as a user if you wish to read the full text of the content and articles available (the Content). You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these terms & conditions or with the prior written consent of Mondaq Ltd. You may not use electronic or other means to extract details or information about Mondaq.com’s content, users or contributors in order to offer them any services or products which compete directly or indirectly with Mondaq Ltd’s services and products.


Mondaq Ltd and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published on this server for any purpose. All such documents and related graphics are provided "as is" without warranty of any kind. Mondaq Ltd and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Mondaq Ltd and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from this server.

The documents and related graphics published on this server could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Mondaq Ltd and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time.


Mondaq Ltd requires you to register and provide information that personally identifies you, including what sort of information you are interested in, for three primary purposes:

  • To allow you to personalize the Mondaq websites you are visiting.
  • To enable features such as password reminder, newsletter alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our information providers who provide information free for your use.

Mondaq (and its affiliate sites) do not sell or provide your details to third parties other than information providers. The reason we provide our information providers with this information is so that they can measure the response their articles are receiving and provide you with information about their products and services.

If you do not want us to provide your name and email address you may opt out by clicking here .

If you do not wish to receive any future announcements of products and services offered by Mondaq by clicking here .

Information Collection and Use

We require site users to register with Mondaq (and its affiliate sites) to view the free information on the site. We also collect information from our users at several different points on the websites: this is so that we can customise the sites according to individual usage, provide 'session-aware' functionality, and ensure that content is acquired and developed appropriately. This gives us an overall picture of our user profiles, which in turn shows to our Editorial Contributors the type of person they are reaching by posting articles on Mondaq (and its affiliate sites) – meaning more free content for registered users.

We are only able to provide the material on the Mondaq (and its affiliate sites) site free to site visitors because we can pass on information about the pages that users are viewing and the personal information users provide to us (e.g. email addresses) to reputable contributing firms such as law firms who author those pages. We do not sell or rent information to anyone else other than the authors of those pages, who may change from time to time. Should you wish us not to disclose your details to any of these parties, please tick the box above or tick the box marked "Opt out of Registration Information Disclosure" on the Your Profile page. We and our author organisations may only contact you via email or other means if you allow us to do so. Users can opt out of contact when they register on the site, or send an email to unsubscribe@mondaq.com with “no disclosure” in the subject heading

Mondaq News Alerts

In order to receive Mondaq News Alerts, users have to complete a separate registration form. This is a personalised service where users choose regions and topics of interest and we send it only to those users who have requested it. Users can stop receiving these Alerts by going to the Mondaq News Alerts page and deselecting all interest areas. In the same way users can amend their personal preferences to add or remove subject areas.


A cookie is a small text file written to a user’s hard drive that contains an identifying user number. The cookies do not contain any personal information about users. We use the cookie so users do not have to log in every time they use the service and the cookie will automatically expire if you do not visit the Mondaq website (or its affiliate sites) for 12 months. We also use the cookie to personalise a user's experience of the site (for example to show information specific to a user's region). As the Mondaq sites are fully personalised and cookies are essential to its core technology the site will function unpredictably with browsers that do not support cookies - or where cookies are disabled (in these circumstances we advise you to attempt to locate the information you require elsewhere on the web). However if you are concerned about the presence of a Mondaq cookie on your machine you can also choose to expire the cookie immediately (remove it) by selecting the 'Log Off' menu option as the last thing you do when you use the site.

Some of our business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies and we are not aware of any at present that do so.

Log Files

We use IP addresses to analyse trends, administer the site, track movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.


This web site contains links to other sites. Please be aware that Mondaq (or its affiliate sites) are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of these third party sites. This privacy statement applies solely to information collected by this Web site.

Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.


If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.


This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to webmaster@mondaq.com.

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to EditorialAdvisor@mondaq.com.

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at enquiries@mondaq.com.

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at problems@mondaq.com and we will use commercially reasonable efforts to determine and correct the problem promptly.