There are some easy steps an organization can take to take to keep litigation costs down, but they just aren’t taking them. That’s the result from a recent survey conducted by LexisNexis into U.S. property and casualty carriers.
Twenty-six percent of the P&C shops surveyed do not use early case assessment, even though 98 percent of them said it’s an effective technique for maintaining costs. In addition, 35 percent don’t e-bill, when 93 percent claimed it helps cost containment, 40 percent don’t employ flat fee arrangements, though 85 percent said they work and 56 percent don’t have volume discounts with success bonuses, but 65 percent of respondents think it’s a good tool.
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