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Consumer class-action settlements more than doubled from 2010 to 2013

Recognizing the increase in consumer class-action lawsuits and the uncertainty over potential payouts, Marsh has launched a specialty insurance product that transfers a company’s known settlement exposure to the insurance market.

Class-Action Settlement Insurance, or CASI, offers up to $100 million in coverage for the monetary portion of an insured’s consumer class-action settlement. After establishing a settlement fund, a company pays a fixed premium and transfers the uncertainty and volatility of the ultimate payout to a global insurer.

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