X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Claims organizations are under increasing pressure to manage the legal expenses associated with claims litigation. The legal spend for the P&C insurance market remained flat at $21.3 billion from 2008 to 2012, while premiums shrank, according to SNL Financial and PwC analysis. A general increase in claim complexity and severity, a 3-4% rise in law firm rates, and greater litigation frequency and billable hours over the last five years, as well as a higher focus on short-term productivity for adjusters, have driven higher-than-expected legal service utilization. As a result, there was a 5-15% increase in overall legal expenses for many U.S. P&C insurance carriers from 2008 to 2012.

PropertyCasualty360

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 © 2019 ALM Media Properties, LLC. All Rights Reserved.