This article originally appeared in Anderson Kill's Policyholder Advisor (November/December 2008).

In the current economic climate, it is wise for policyholders to take stock of their insurance portfolios and consider whether a change in insurance companies would be beneficial. While re-examining existing insurance is a step in the right direction, risk managers cannot make an informed decision without considering several key issues, including limits, additional layers, claims handling history, mandatory policy clauses, pre-existing conditions, and pitfalls of a new application process.