A Practice Note discussing how companies can maximize their insurance coverage when faced with claims, including large consumer and product liability claims. This Note discusses the importance of historic and current insurance policies, the distinction between occurrence and claims-based policies, exclusions, endorsements, pro rata allocation, "all sums" allocation, deductibles, self-insured retentions, the duty to notify, the duty to cooperate, and how to determine the extent of coverage provided. This Note also addresses potential conflicts of interest which may arise between an insured and its insurer, the impact of a reservation of rights letter and bad-faith claims.