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The Goldman Sachs Group, Inc. Message Board

zero1sum 3 posts  |  Last Activity: Sep 11, 2014 9:59 PM Member since: Jun 11, 2007
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  • Reply to

    Some info on the Ghodawat issue

    by barrygeo Sep 11, 2014 2:00 PM
    zero1sum zero1sum Sep 11, 2014 9:59 PM Flag

    The other type of notice provision requires reporting of the claim during the term of the policy or within a short period of time (thirty or sixty days) following the expiration of the policy. This type of notice is always found in claims-made policies and is never found in occurrence policies

  • Reply to

    Some info on the Ghodawat issue

    by barrygeo Sep 11, 2014 2:00 PM
    zero1sum zero1sum Sep 11, 2014 9:47 PM Flag

    Not necessarily true they took nearly two months. The statement below says option two states 30 to 60 days. They could of got official time stamp which thy most certainly did. Which might of come under allotted time. Thank you for your informative link.Not necessary the case reading on from your information which was very informative and thanks.

    Both the 2010 and the 2011 policy were clear that they covered "Professional Claim[s] first made against the Insured during the Policy Period and reported to the Insurer during the Policy Period, Automatic Extended Reporting Period or the Optional Extended Reporting Period if applicable." It is undisputed that Ghodawat first made claim against AMSC during the 2010 policy period, and that AMSC did not report the claim to Catlin until May 26, 2011, nearly two months after the 2010 policy period had ended, by which time Catlin had quoted, priced and issued a new claims made and reported policy knowing nothing of the Ghodawat claim. In short: the Ghodawat claim was not made and reported in the same policy period. By the plain language of both policies, therefore, it is not a covered claim. The SJC has given the following explanation of the differing notice requirements as between occurrence policies and claims made and reported policies, why they are different, and the potentially differing consequences of late notice:5

  • So your starting to second guess yourself. That is always a good thing. See if we aren't muti calulating. We settle on our views. Which brings in fanaticism. Tends do take energy away from what should be. To be settled in another fractal of life's choices.

GS
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