In an industry predicated on stability and predictability, new industries and technologies test industry tolerances and procedures. When loss occurs, policyholders in new or evolving industries often discover—by chance—gaps in the coverage offered by their legacy products, leading to costly disputes with their insurers. For example, 3D printing has evolved from emerging risk to manufacturing staple. As the industry grows however, it faces increased risk exposures including professional liability, products liability, workers’ compensation and employers liability, business interruption and supply chain risks, intellectual property challenges, and, like all businesses, an increasing cyberrisk. However, most traditional or “legacy” insurance products fail to provide sufficient coverage for these risk exposures vis-à-vis the 3D printing industry, just as they fail to adequately protect businesses in other emerging industries that, along with their concomitant risks, simply did not exist when the legacy insurance products covering them were formulated.
To view this content, please continue to Lexis Advance®.
Not a Lexis Advance® Subscriber? Subscribe Now
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
For questions call 1-877-256-2472 or contact us at firstname.lastname@example.org