Effective management of defense costs plays a crucial role in insurance recovery.
It’s a topic I recently had the opportunity to write about in an article for the ABA Mass Torts Journal, published by the American Bar Association. Titled “Maximizing Insurance Coverage: Efficient Defense Cost Management,” the piece highlights the importance of prioritizing insurance considerations from the outset.
Here’s an excerpt:
“As litigation scales up, defense becomes increasingly complex and costly, often exceeding the ultimate settlement costs. In the face of mounting lawsuits, insurance can be a crucial lifeline for corporations, preventing potential existential crises. That's why it is vital to prioritize insurance considerations, even in the early stages of litigation. But what does this mean in practical terms?”
I then step through how corporations can safeguard their financial well-being. The key is adopting a centralized system for defense cost management to:
I hope you find the article helpful. As the legal landscape continues to evolve, optimizing the insurance recovery process will benefit all parties involved in mass tort litigation.
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Robert Parrish is the lead on custom solutions projects where he provides clients with product development, product maintenance, reporting and support. From requirements gathering to data migration to the creation of the user interface, he works with clients to create innovative solutions to address the client’s most complex problems.Learn More About Robert