Emerging Issues Facing the Property & Casualty Insurance Industry: What Has, What Is, What Will Be
Charlie Kingdollar was Emerging Issues Officer for GenRe where he worked for 40 years, much of which was spent monitoring hundreds of new risks at any given time. In this article, Charlie discusses risks that have long-since emerged but continue today, risks that are starting to reveal themselves, and risks just starting to appear on the horizon. Read or download his article published in the latest issue of the Journal on Emerging Issues in Litigation.
Settlement Psychology: Who is in Control? Homer Simpson or Mr. Spock? | Complimentary Webinar
Settlement Psychology Who's in charge? Homer Simpson or Mr. Spock? Cognitive obstacles to finding common ground. Complimentary On-Demand Webinar From HB! 1 CLE credit CLE questions? CLE@LitigationConferences.com Questions for speakers? Questions@LitigationConferences.com SPEAKERS Jeff Trueman Mediator / Negotiator John Philip Miller Baltimore City Circuit Judge (ret.) This course is also available via the West LegalEdcenter. Improve your negotiation strategy and outcomes. Mediator, arbitrator and settlement conference neutral Jeff Trueman says the lawyer’s mind can sometimes play tricks on them when it comes time to settle a claim. “The central question on the minds of counsel, their clients, and insurance professionals in civil litigation is, of course, ‘What’s the case worth?’ For mature torts there is enough historical settlement and verdict data exist for counsel to argue why a particular case should or should not fit within a certain settlement range. In the midst of these discussions, the human brain plays tricks on us. For example, litigators sometimes assume that their trial experience can determine how jurors will negotiate with one another and resolve factual discrepancies after closing arguments. This assumption is a ‘heuristic’ – a cognitive shortcut called attributional error or illusion of control.” Backed by his decades of psychological and economic sciences research, Trueman says there is a lot of room for attorneys to change their mindset when moving into settlement mode. Litigation Chicken “When differences over case value intensify, litigators return to threats of relinquishing control: ‘Maybe we have to try this case;’ or ‘We feel good about our chances in front of a jury.’ Underneath the games of litigation chicken that are the hallmark of settlement negotiation, heuristics lead to erroneous valuations and assessments of risk.” He says attorney would be well served, and would serve their clients well, if they make adjustments depending on their role at a given point in the process. “Many lawyers default to their role as advocates for legal rights without considering the quality of counsel they give to clients regarding risk management. This plays [...]