Instructor for this course
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Enrolled:
28
Duration: 2 Hours
Level: Intermediate
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Almost every business will, at some time in its existence, be sued. The suits may be false and fraudulent, a suit where there is a possibility you will be found liable to the plaintiff or a suit where you owe no liability to anyone.  Every insurer will face a suit for breach of contract or for causing damage to another person or entity as a result of negligent or intentional conduct. Every business, therefore, needs a proactive effort at risk management to avoid or limit litigation against it.

As contingent or unknown losses cannot be predicted by an individual business, it must manage the risk of loss by contingent events that will bring about suits seeking tort damages.

This course explains that risk management is the process of identification, analysis and either acceptance or mitigation of uncertainty in business.  Essentially, risk management occurs anytime a business analyzes and attempts to quantify the potential for losses in business. The curse also explains how to deal with a lawsuit that is filed naming the business as a defendant, including how to obtain insurance before the suit and how to deal with your insurer after a suit is filed.

We also discuss how to retain and control the work of defense counsel if the business is sued for a tort or breach of contract but not insured and explain reasons why to settle or not settle a lawsuit.

Learning Objectives

  • Explore the concept of risk management.
  • Explore the methods of dealing with an insurance company after a claim or suit is made against the business.
  • Identify each coverage available to your business to protect against tort actions.
  • Identify how to deal with a simple claim where suit is filed against the business.
  • Discover how insurers negotiate with tortfeasors.
  • Discover how to manage your attorneys.

2 Reviews (17 ratings)Reviews

3
Anonymous Author
A bit slow and repetitive. Probably should have been 1 or 1.5 hours instead of 2.
4
Anonymous Author
Good overview and detail of the role of the insurance policy in defending suits

Prerequisites

Prerequisites: Experience presenting claims on behalf of the company to an insurer; and any officer of a business required to deal with and manage legal services.

Advanced Preparation: None

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 ext. 106, or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Importance of Insurance
  8:35What is Insurance
  7:01The Need for Insurance
Good Faith and Fair Dealing
  12:14The Common Auto Accident
  10:17The Covenant of Good Faith and Fair Dealing
  13:27The Importance the Tort of Bad Faith to Every Business
Tort Suit
  5:35Refuse to Settle a Tort Suit
  13:49Why Incur Millions for Defense
  10:09How to Manage Independent Council
CONCLUSION
  15:54What to do when there is No Insurance Coverage
Continuous Play
  1:48:26What To Do When Your Company Gets Sued - And How to Prepare
SUPPORTING MATERIALS
  PDFSlides: What To Do When You Get Sued
  PDFWhat To Do When You Get Sued Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM