The knowledge and expertise of your broker , your insurer , and your legal counsel can provide you with appropriate risk mitigation and transfer approaches that can deliver on your business resilience goals in a highly litigious environment . •
especially ones that look most problematic .
• Deploying early intervention tactics , where you and your counsel deem applicable , and utilizing aggressive action plans to resolve claims expediently .
• Vigorously preparing for and defending claims that cannot be settled early .
• Alerting all participating insurers across all layers of any claims with the potential to result in a nuclear verdict so that they are part of the process from the start .
It is also important for corporations to invest in fostering good relationships within their community and demonstrating they are good corporate citizens . When a company invests in its social and governance posture , it can reduce the risk of juries viewing the defendant as a villain and could reduce the risk of unreasonable verdicts .
While nuclear verdicts are currently most prevalent in the US , social inflation is being felt in many countries , requiring organizations in different regions to prepare for the potential of high jury verdicts and their impact on their business .
The knowledge and expertise of your broker , your insurer , and your legal counsel can provide you with appropriate risk mitigation and transfer approaches that can deliver on your business resilience goals in a highly litigious environment . •
This article originally appeared in the March Claims Management Resource Blog . Marsh McLennan is the leader in risk , strategy and people , helping clients navigate a dynamic environment through four global businesses . View it in it ’ s entirety at https :// www . marsh . com / us / services / claims-management / insights / could-yourbusiness-survive-a-nuclear-verdict . html
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