An experienced insurance company board of director.
Mr. Andrew J. Barile, also known as Andy, C.P.C.U. & M.B.A., is the Founder, President, and Chief Executive Officer at Andrew Barile Consulting Corporation, Inc. Mr. Barile has 40 years of experience including eighteen years insurance consulting experience. He specializes in litigation support services; reinsurance and marketing negotiating; director/insurers and offshore insurers; insurance agency market finding, program design and implementation and agency-company relations. He is highly skilled in captive formation and feasibility studies; fronts, reinsurance and capital raising for captives; insurance company mergers and acquisitions which includes identifying and purchasing companies, due diligence, regulatory negotiations, rating organization strategies and acting as a liaison to A.M. Best Company, Inc. for ratings.
Insurance agents, managing general agents, TPA’s, insurers and reinsurers are spending more money and devoting more resources on legal services and insurance advice than ever before. More companies are embroiled in lawsuits.
As an insurance and reinsurance litigation consultant, a reinsurance arbitrator, an insurance and reinsurance expert, and having fifty years of insurance experience as a wholesaler, MGA, insurer, reinsurance broker, reinsurer, both domestic and in Bermuda, I want to reveal how companies and their law firms are dealing with the increase in litigation and what qualities are of most value when the lawyers are selecting an Insurance and Reinsurance Litigation Consultant or Expert.
Characteristics of An Insurance and Reinsurance Litigation Consultant (in order of importance)
2. Knowledge of the Insurance and Reinsurance Industry
4. Value of the case (monetary value)
Companies have experienced an increase in litigation in recent years. In house counsels saw an increase in litigation and, understandably have to address the issue. The concept of finding more people being prompted to file a claim in increasing worldwide. We find more often, today, that U.S. lawyers are pursuing litigation possibilities outside the United States as well.
Outsourcing Legal Work
More insurance companies and reinsurance companies are finding it more cost effective to outsource their legal work to law firms to cope with the rise in litigation. It is certainly easier to control by outsourcing. In talking with lawyers, you can come to the conclusion that litigators handle litigation and arbitration better than the in-house staff can. Retaining local lawyers from the country in which they have legal problems is the smarter way to go. Only with the Internet can this work be cost effective.
Searching For the Ideal Insurance and Reinsurance Litigation Consultant
In house legal counsels from insurance and reinsurance companies are constantly asking their law firms to improve their service and requiring
(a) a more prompt turnaround;
(b) increase the amount of research on a case;
(c) more regular updates;
(d) in cases of court cases, a more thorough preparation;
(e) understand the reinsurance agreement; and policy coverages; and
(f) understand the Arbitration Clause.
All of these requirements have burdened the litigation lawyer with the major issue of selecting the appropriate expert that has the expertise and ability within the insurance and reinsurance industry. The insurance and the reinsurance industry is very complex and locating the right litigation consultant with the right knowledge is very a must.
Insurance and Reinsurance Litigation Consultants stay current and must be attending the PCI conventions, the NAIC quarterly meetings, the PriceWaterhouse, Standards and Poors, and AM Best Conferences to stay current in the insurance industry. Numerous insurance periodicals are read.
In an increasing litigious society, insurance and reinsurance law firms seem to be working in closer partnerships with their insurance and reinsurance experts than ever before. Adequately understanding the insurance and reinsurance industry with the consultant delivering the service they expect.
Call: (619) 507-0354 or email: email@example.com for a free consultation.
I am Andrew Barile, MBA, CPCU and I approve this message.
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