These days every organization, profession, and the business houses whether they are big or small are exposed to different kinds of legal liabilities. In order to provide protection to these liabilities, companies usually take insurance policies. These insurance policies cover a wide variety of things including omissions, theft, errors, and also the liabilities incurred by the directors and the officers while complying with the corporate governance. The smaller companies that have limited financial resources are at a huge financial risk. The bigger corporations, on the other hand, can hire the reputable attorneys and therefore, that can adequately cover the litigation costs.
For covering the litigation cases that are playing a prominent role in today’s businesses, the insurance companies are paying heavily to the big business houses. The attorneys help the organizations in the insurance coverage litigation by providing them opinions regarding the risk coverage and exposure. In case, there arises any kind of dispute regarding the insurance coverage, the attorneys representing each of the parties try to resolve the matter amicably by offering necessary support. The attorneys, in general, have thorough knowledge about the laws, regulations, and statutes and due to this; they can easily settle the disputes and also help the organizations in getting their claims.
Role of the attorneys
Attorneys belong to the group of lawyers who represent the insured or the policyholders and they handle a wide range of issues in different industries and sectors, which include the pharmaceuticals, manufacturing, industrial, financial services, construction, agricultural, and real estate. They present their clients in the pre-suit disputes as well as in the litigation process and at all the phases right from the trial to the appeal. The legal counsels also cover and render assistance outside the litigation such as claims tendering, insurers’ negotiation regarding claims handling, monitoring the policies, coverage analysis, assisting the policy renewals, and also covering the audits.
In most of the cases, the attorneys who handle the insurances havehuge experience of representing the insurers and the policyholders regarding the insurance coverage disputes. These disputes include mediation, litigation, and arbitration. There are some attorneys who even offer advisory services connected to the acquisitions, mergers, and the commercial contracts. They also coordinate with the insurance programs and oversee the relationship between the insurers and the policyholders in relation to the complicated agreements. They even help the organizations in recovering millions and billions of dollars from the insurance companies. Most of them offer cost-effective solutions in a very rapid manner.
Coverage of services
The team of attorneys while offering the insurance coverage litigation to the organizations offer a wide variety of services related to it. They analyze the case law in an extensive manner. They draft the insurance policy in a language that is understood by both the parties. This acts as a very powerful tool for the policyholders. They also provide guidance and proper analysis on the newly growing areas like the environmental liability, disputes over intellectual property, terrorism coverage, and the cyber losses.