What Is An Insurance Expert Witness?
Insurance coverage expert witnesses are experienced in the liability and risk stated within the terms an insurance policy. It is imperative to retain an insurance expert witness for your case with experience matching the specific form of coverage is involved with the lawsuit in question. The terms of insurance coverage often changes depending on the specific details of each type of policy, whether it is a policy related to homeownership and other forms of property, automotives, engineering projects, life insurance, or other forms of coverage.
Insurance coverage encompasses the many details related to insurance policies, including insurance claims, insurance contracts, underwriting, premiums, risk management, insurance brokerage, premises liability, and product liability. An insurance expert witness is often knowledgeable in specific types of policies, such as automotive insurance, flood insurance, workers compensation, business interruption insurance, ocean marine insurance, general liability insurance, umbrella and excess liability insurance, builders risk insurance, excess and surplus lines insurance, property insurance, casualty insurance, reinsurance, and other forms of coverage.
Insurance coverage expert witnesses are also knowledgeable in the proper procedures involved with taking out insurance coverage, including the establishment of insurance contracts and the rules and regulations contained therein. Such experts are licensed and certified as broker agents, surplus lines brokers, reinsurance/insurance arbitrators, underwriters, and other related professions. An insurance expert witness is often retained for insurance bad faith cases.
Legal Requirements For An Insurance Expert Witness
The legal requirements for being an expert witness are fairly minimal. According to Federal Rule of Evidence 702, expert witnesses must have “knowledge, skill, experience, training, or education” which will “help the trier of fact to understand the evidence or to determine a fact in issue.” This is a very broad standard. Under this standard most adults could probably be qualified as an expert witness on something. Two other legal requirements are somewhat common and will vary depending on jurisdiction. Our experienced insurance expert witness has extensive experience with a variety of insurance policies, claims cases, and bad faith cases.