Unique liability challenges exist for businesses in relation to the manufacture, sale, and distribution of products. This includes warranty issues relating to the performance of the products. For example, the product may be defectively designed or manufactured in a negligent manner, causing serious harm to those using it. Alternatively, there is the potential of contractual liability arising from others involved in the chain of commerce.
Marsh provides a broad range of support to clients and their defense counsel including:
- Historical insurance policy organization and analysis.
- Collection, organization and analysis of claim information.
- Identification and organization of unallocated expenses.
- Loss allocation modeling to support insurance recoveries.
- Design of settlement schemes and negotiation with insurers.
- Creation or enhancement of insurance billing system.
We also provide support to clients with insufficient insurance limits, and/or self-administered clients that are looking to lessen their exposure through risk transfer including:
- Evaluation, recommendation, and implementation of best practices to either put the program in the best light for prospective insurers or reduce cost if risk is retained.
- Elimination or reduction of risk through loss portfolio transfers.
These services provide a number of benefits including:
- Favorable settlements with insurers.
- Financial planning and forecasting (including Chapter 11).
- Insurance recovery predictions based on changing assumptions.
- Proof of damages for trial purposes.
- Viable bill to insurers and prompt recovery.
- Cost-effective risk transfer.
Marsh has strategies that can minimize the impact of product liability and mass tort exposures, as well as other external liabilities, on your bottom line.