Businesses facing catastrophic losses, whether as a result of an accident or a natural disaster, or due to mass tort claims, frequently will engage both their insurance broker and legal counsel to identify and pursue potentially responsible insurers. The insurance broker can be a valuable resource during the claims process and, among other things, can help:
..develop loss allocation models to support insurance recoveries;
..collect, organize, and analyze the client’s documentation of losses;
..supplement counsel’s knowledge of the insurance market to help develop negotiation strategy; and
..leverage long-standing business relationships to facilitate settlement of claims disputes.
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