Defending Billion-Dollar Claims (CLM Magazine)

Defending Billion-Dollar Claims

  Thursday, August 12th, 2021 Source: CLM Magazine

As we all know, when it comes to 2021, insurers and defense attorneys must think the unthinkable and be ready for the unimaginable.

We are all too familiar with breaking news chyrons from major news outlets that alert us on a daily basis to mass shootings, building collapses, wildfires, refinery or bomb explosions, or catastrophic transportation accidents involving planes, trains, and trucks, all with significant numbers of fatalities and injured victims.

As insurance carriers and defense litigators, we must be ready for any of these events from the moment they occur.

So, when you get the call, what do you do? Based on our experience, there are nine best practices for handling the most difficult and complex situations. We discuss each step in detail below.

Step #1: Create a defined team to handle a crisis at the outset. Immediately naming your legal team—or, better yet, having predetermined counsel for crisis situations—allows the insured to be more prepared out of the gate. This is especially critical since plaintiffs’ counsel may organize quickly, be aggressive, and start making discovery demands immediately.

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