Client Results - Executive Liability
Beecher Carlson Recoups $250,000
for Technology Client Entrenched in Protracted Securities Litigation
A technology client was entrenched in protracted securities litigation where defense fees and expenses had breached nearly half of the primary’s layer, unbeknownst to the excess markets at the time of our appointment. More importantly, in the course of our routine due diligence, we discovered a significant discrepancy in the defense fees and expenses credited by the carrier. Our client had not been aware of the discrepancy.After bringing this matter to the General Counsel’s attention and advising that a substantial amount of the disallowed fees were reasonable and necessary in the defense of these matters, we petitioned the primary carrier for reconsideration.
The results: having illustrated the necessity of these expenses, we were able to recoup over a quarter of a million dollars for the client. In addition to the client recouping a substantial unexpected monetary reimbursement from the primary insurer, our extensive efforts at streamlining the information and invoices to the markets enabled that client to favorably reposition itself as a risk.
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