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Is Your Company Sitting on Buried Treasure?

By James J. Leonard and John L. Watkins

Many companies are sitting on buried treasure and do not even know about it. Buried treasure is often found in insurance policies the company purchased, including policies purchased many years ago. In other cases, substantial resources are unlocked in policies the company inherited through a merger or acquisition. This buried treasure can often be worth millions or even tens of millions of dollars that go directly to a company's bottom line. This may sound too good to be true, but it happens more often than you might think. The key is to know where to look for buried treasure in your insurance resources and what to do if you find it.

In order to find buried treasure in your company's insurance policies, it is first important to understand how it was lost in the first place. There are many ways in which companies overlook or fail to pursue available insurance resources. Here are some of the more common.

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