Keys To Limiting Litigation Liability
Over the last decade, businesses have placed tremendous focus on improving the safety of their products, their establishments and the services they provide to their customers.
They have taken advantage of data, technology and enhanced risk management practices driving safety and quality.
Yet we continue to see extreme verdicts, social inflation and “hell hole jurisdictions” in the liability arena. The question is, what more can be done?
In this paper, we will analyze the trends in liability and auto losses, both litigated and non-litigated, and provide guidance on tactics to manage those losses.
Key findings: Nuclear verdicts continue to be a concern for the business and insurance community. Just one of these verdicts can have a major impact on individual programs. Media coverage and advertisement of these verdicts may motivate increased litigation that, in turn, creates an increased burden on carriers and companies.