Reformation of Insurance Policies: Expanding or Reducing Coverage, Grounds for Relief, Defenses, Standards of Proof

This CLE webinar will discuss the equitable remedy of reformation in the context of insurance coverage litigation. The panel will review the factual situations that give rise to demands for reformation, the grounds for reformation, when and how it is raised, factors considered, and how the remedy differs from rescission and broker negligence or malpractice.

Reformation can be a powerful remedy for a policyholder or insurer who believes the policy at issue with respect to a claim does not accurately reflect the scope of coverage negotiated and agreed in the drafting and issuing of an insurance policy. Reformation will not be granted, however, to relieve a party that believes it received a bad deal. There must be evidence that the policy does not reflect the agreed terms.

If successful, reformation has the potential to transform a policy with language that clearly precludes coverage into a policy that provides coverage, or vice versa.

Listen as this panel of insurer and policyholder counsel discusses the factual situations that give rise to demands for reformation, the grounds for reformation, when and how it is raised, factors considered, and how the remedy differs from rescission and broker negligence or malpractice.