As an alternative to claim submissions and settlements, Coverage-in-Place (CIP) agreements may be a more suitable strategy to resolve insurance coverage for known and unknown future liabilities. A negotiated CIP agreement prescribes how future liability will be apportioned to settled coverage, and LLM is well positioned to support the review and negotiation of alternative CIP structures, related terms, and potential outcomes resulting from this strategy.
In addition to assistance in negotiating and implementing a CIP agreement, once the agreement is reached, LLM can incorporate the negotiated terms into existing client allocation and billing models so that, as bills are issued, the client can track the receivable, policy exhaustion, and accrued interest pursuant to the agreement so that all parties are kept up-to-date on the status of coverage and billings.