Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Ivory soap is renowned for being 99.44 percent pure. In the advertising realm, that is an impressive percentage. In corporate liability and risk management, however, 99 percent effectiveness and safety may not be impressive enough.

In my career handling and managing claims — helping policyholders who have been the target of lawsuits — I often hear clients insist that they have a strong legal defense because an accident or an adverse outcome is “statistically insignificant.” For example, when dealing with prescription drugs or medical liabilities, perhaps only a few dozen patients out of 10,000 have a fatal reaction. Maybe only 66 out of a million are adversely affected. In this calculus, it is easy to rush to judgment in dismissing a plaintiff’s liability argument. One could say the claim is bogus and has no merit, anticipating a slam-dunk trial victory.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.