Optimizing Coverage and Claim Settlement

Situation
A large financial institution was in midst of trying to close a large, multinational merger, and had significant securities actions, professional services / E&O actions against both the Company and its directors, and officers. It also had challenges identifying a consolidated post-close executive liability program, given past and current claims facing it and its carrier partners. The Company was experiencing difficulty achieving certainty in the settlements and acceptable levels of carrier contributions.

Solution
CRS was retained to actively negotiate, alongside the Company’s lawyers, a restructure of the settlement of claims, identification of certain concessions by the Company and an agreement on future contributions of outstanding other claims. The end result was several million dollars of an enhanced contribution by carriers and a reinvigorated relationship between the Company and the carrier partners going forward.

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