claims recovery
Claim after claim. Asbestos, environmental, and other toxic tort liabilities can grow exponentially. One of our new clients explained, “The costs and the details just keep piling up.” Companies faced with long-tail claims suffer from costly distractions… at best. An avalanche of claims, countless management details, and ever increasing litigation costs may even threaten the existence of an organization.
The complexity of long-tail claims quickly becomes an enormous challenge. The core business of most organizations does not include dealing with insurance companies, policy details and claims administration. Fortunately for our clients, complex insurance claim recovery is central to what we do.
To date, Risk International has recovered over $559 million in disputed insurance claims for our clients. We are not litigators. We are problem solvers. We negotiate challenging claims to settlement without argument or acrimony.
Customized, thorough, and effective insurance recovery. Knowledge gained through experience enables Risk International to develop tailored, thorough, and successful insurance claim recovery strategies. Insurance policy proceeds are maximized and transactional costs minimized through the application of proven processes. A careful understanding of each situation determines which of the following services may be employed:
- Reconstruction of past insurance coverage
- Evaluation, analysis, and illustration of coverage
- Review and abstract policies
- Investigate and assess the facts and costs of the underlying liabilities, considering all past costs and appreciating all future costs
- Notify all appropriate insurance carriers and respond to insurer correspondence
- Manage extensive confidential information and document exchange with insurers
- Evaluate coverage positions based upon current case law in respective jurisdictions
- Establish computerized allocation methodologies to compare liabilities to coverage
- Analyze and recommend recovery options and design recovery strategies
- Development of reserve amounts
- Negotiate settlements directly with each carrier, utilizing understanding of the carrier’s decision-making process gained by prior negotiations and personal relationships with decision makers
Our engagements are typically conducted through in-house counsel. When needed to accomplish our clients objectives we also partner with law firms, large and small. Risk International has long standing working relationships with most of the major law firms in the country specializing in insurance coverage litigation on behalf of policy holders.
Negotiating with Confidence. Our extensive experience with all major insurers gives our clients the advantage of established relationships. This enables us to resolve claims without the need of undertaking costly litigation. Comprehensive experience and training enables Risk International professionals to negotiate with confidence. The result, maximum insurance recovery with minimum transaction costs.
Information, the power to resolve claims quickly and efficiently. Visibility and insight into your claims data gained through our ClaimPro information system empowers us to automate many challenging but essential functions of the claims resolution process. Complex scenarios can be modeled and analyzed from multiple perspectives. This critical information, combined with the expertise of our professionals, improves every step of the process. ClaimPro also handles difficult administrative activities quickly and accurately. Defense counsel payments are calculated and paid on time. Thousands of notice letters can be sent on a timely basis. Detailed reports are developed that precisely fit the needs of our clients.
When faced with the unavoidable challenges accompanying long-tail claims, our clients partner with us to obtain the tools and knowledge that enable them to effectively mitigate losses. Our processes provide clear visibility and insight. Our work maximizes recovery potential from insurance carriers and minimizes transactional costs. As a result Risk International clients provide their organizations what they need most, confident leadership.