How Class Action Settlement Insurance Helps Companies Transfer Risk in Class Action Litigation
A complimentary webinar
According to data from the 2020 Carlton Fields Class Action Survey, $2.64 billion was spent on class action litigation in 2019. In 2020, the survey data showed that 64% of all major companies surveyed were currently dealing with a class action lawsuit.
Class action lawsuits are not only expensive, they also have significant business and reputational implications on a company.
Class Action Settlement Insurance (CASI) allows companies to mitigate, cap and transfer the financial risk of settlement in existing class action litigation. This insurance product was designed in response to businesses’ need for financial certainty in class action lawsuits and resulting settlements. CASI eliminates the unintended consequences of settlement and helps businesses exit litigation for a known, fixed cost.
Join our panelists for a complimentary webinar that will explain how class action settlement insurance works and how companies have used CASI to transfer the financial risk of class action litigation.
In this webinar, attendees will learn:
- The benefits of structuring a claims-made settlement
- How to resolve class action litigation for a known, fixed cost
- The importance of negating the unintended consequences of settlement
- How to assess viral claims risk
- Why defending businesses and their counsel should consider CASI
- And much more..
Watch Webinar On-Demand
Jay N. Varon , Foley & Lardner, Partner and Litigation Lawyer
Jay has litigated a broad cross-section of commercial cases around the country, including matters relating to the Real Estate Settlement Procedures Act (RESPA) and other federal and state consumer financial services laws, as well as cases involving antitrust, unfair competition, deceptive trade practice, trade secrets, environmental, business tort, securities fraud, and products liability issues. Many of Jay’s cases involve the defense of class actions or other high stakes matters as well as proceedings before administrative agencies like the Consumer Financial Protection Bureau (CFPB) or Federal Trade Commission (FTC).
Gregory E. Ostfeld , Greenberg Traurig, Vice Chair of Greenberg Traurig Pharmaceutical Medical Device & Health Care Litigation Practice and Co-Chair of the Chicago Litigation Practice
For more than two decades, Greg has focused on providing outstanding representation and exceptional service to clients in regulated industries, with a focus on pharmaceutical and medical device companies, the financial services sector, and the consumer products sector. Greg focuses his litigation and appellate practice on class actions, products liability, and other high-stakes litigation, combining innovative strategies with a deep understanding and appreciation of his clients’ business goals and objectives to deliver superior outcomes. Greg’s litigation practice is nationwide; he has handled individual, multi-district, and consolidated cases at the trial court level in dozens of states, and has led appeals in nearly every federal appellate court and approximately two dozen state appellate courts. The pillars of Greg’s practice are: understanding the client’s business; frequent and consistent communication and collaboration; tailoring legal strategy to client objectives; and principled representation meeting the highest standards of professionalism.
Kevin Skrzysowski , Risk Settlements, National Director of Business Development and Marketing
Using Risk Settlements’ proprietary quantitative and qualitative analysis and more than 20 years of legal and business expertise, Kevin assists companies and their counsel in designing optimal settlement structures to mitigate financial risk arising out of class action settlements. Prior to joining Risk Settlements, Kevin has worked with law firms to design customized business solutions while working at Bloomberg’s Legal Division, Thompson Reuters and Lexis Nexis. Kevin earned his Bachelor of Arts degree in political science from Ohio University and his J.D. from Marshall College of Law in Cleveland, Ohio.