Properly reserving rights, in connection with both property and liability claims, can have a significant impact on an insurance company’s ultimate obligations. In this installment of our series geared especially for insurance companies and their in-house counsel, Gene Weisberg discusses: • methods for analyzing claim issues to determine what rights should be reserved • techniques for writing an effective reservation of rights letter • how to address questions and comments from the policyholder in response to a reservation of rights letter • the consequences of an inadequate letter, and how to avoid those consequences • issues relating to who is entitled to select defense counsel depending on what rights are reserved.