Thank you for sharing!

Your article was successfully shared with the contacts you provided.

To date, the most significant Year 2000 insurance coverage disputes have focused on a rather arcane provision-the “sue and labor” clause.

This clause, which originated hundreds of years ago in marine insurance, is found today in some all-risk property policies. Although the specific terms vary widely, sue and labor provisions generally require the policyholder to protect or preserve the insured property in case of actual or imminent covered loss. To encourage such efforts, the insurer generally promises to reimburse a portion of the policyholder’s reasonable expenses. An example of a reimbursable expense might be the reasonable costs of salvaging sunken goods from the ocean floor.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.