Managing Lit Costs...Considering Jury
Tuesday, January 21st, 2003 LitigationA serious concern for every claim adjuster should be the rising cost of litigation. Managing the litigation process involves everything from determining a litigation budget to evaluating the strength of the case (“Should we take this to trial or should we settle?”), evaluating the value of the case (“How much should we settle for?”), and assessing the marginal benefit of each cost related to litigation, from experts to consultants to discovery costs. Oftentimes, the litigation budgeting process can become chaotic, with significant cost overruns attributable to poor planning and resources spent on redundant services. In such cases, pre-trial jury research, especially when undertaken early, is the ideal tool for directing discovery strategies
