As strategic business attorneys and trusted advisors, insurance recovery lawyers can help their insurance policyholder clients manage risk and attain their business objectives. An experienced and collaborative team of thought-leading attorneys can develop a creative risk management and insurance recovery strategy that meets your goals and solves your business problems.
Experience and Knowledge
With knowledge and experience in insurance coverage and litigation spanning a diverse group of private businesses, industries, and entrepreneurs, attorneys help in insurance recovery by:
- Writing and negotiating innovative insurance protection
- Designing transformational risk management and insurance programs
- Navigating the insurance recovery claims process
- Obtaining billions of dollars of insurance recoveries for their clients
Insurance recovery lawyers, like an insurance lawyer in Chicago, IL protect their clients against risks and liabilities by maximizing recoveries from insurers in contentious and high-stakes insurance claims. They do this through negotiation and settlement when possible. However, they may also use litigation and arbitration if they are necessary.
Where litigation is needed, insurance recovery attorneys have experience working in state and federal appellate and trial courts across the nation and before arbitration tribunals around the globe. Insurance recovery lawyers also strive to improve their clients’ insurance programs by negotiating and drafting enhancements to coverage. They can also provide insurance advice and diligence in connection with a broad range of transactions and may advise on indemnities, governance issues, insurance regulations, asset management, and bankruptcy issues.
Insurance Recovery and Risk Management
Insurance recovery lawyers focus mainly on business insurance policyholders. They help their clients to obtain, optimize, and manage their insurance coverage as a financial asset. Plus, they work to minimize risk and avoid claims in the first place.
Lawyers routinely advise clients on insurance programs they are considering or interpret the actual coverage afforded by the policies that they have in place. They regularly provide comparisons and proposed policy alternatives or assessments to ensure that the policies truly cover the risks clients are most concerned about.
Insurance recovery attorneys may also counsel clients on claims management strategies that can minimize the impact on remaining policy limits. This helps them to manage and fund their own risk through captive insurance programs and self-insurances.
Litigation and Coverage Disputes
Attorneys represent policyholders in disputes over coverage or denied insurance coverage in a variety of matters. Insurance coverage lawyers have significant experience in handling these types of claims.
Risk Prevention and Management
Attorneys can develop processes and strategies and processes to minimize or control claims before they become a problem. Claims and litigation analysis, product safety review and compliance, risk management training, and document retention programs can reduce risk and liability. These enable clients to minimize or control claims, get better pricing for their insurance programs, and structure creative insurance programs.
If you have a situation or need the kind of help described here, then you are well-advised to engage the services of an insurance recovery lawyer. For more information about insurance recovery and risk management practices, or to sit down with a lawyer and discuss your unique needs, schedule a consultation with a knowledgeable and experienced attorney today.
Thanks to Childress, Lockus & Plunkett for their insight into insurance law.