Contracts define rights, obligations, and remedies. Thus, every contract contains multiple provisions that create or mitigate risk. Frequently, when an adverse event occurs or a potential adverse event is recognized, you look to the contract to determine the impact of that event. This reactive approach to contract risk depends on good fortune for success and…
By Michael Bruton | Chief Product Officer, DocLens.ai and Arnab Dey | CEO, DocLens.ai October 2022 If your business has exposure to the risk of third-party liability claims, you should be proactively implementing solutions to mitigate rapidly increasing costs. Social Inflation is the increase in the cost of resolving claims attributed to changes in the way…
Rising loss costs, particularly in litigated insurance claims, which is frequently called Social Inflation, is a significant risk for property and casualty insurers. Mitigation of that risk must focus on improving claim outcomes and successful insurance claim teams are constantly asking “how can we get better outcomes?”. Investments in training and talent, streamlining process and…
We know that Nuclear Verdicts impact the parties directly involved in the case but they also have a ripple effect through society.
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