NASP 2024 Ignite Annual Conference: Takeaways from Shareholders Tiffani Palmer and Michael Chapman
Shareholder Tiffani Palmer and Attorney Michael Chapman recently spoke and exhibited at the National Association of Subrogation Professionals (NASP) Fall Conference in Phoenix, Arizona. Tiffani and Michael along with Jordan Poole, subrogation manager at Nationwide, discussed strategies to maximize recoveries in subrogation claims through their presentation, “Don’t Leave Money on the Table.” Now, they are sharing a summary of their session with these top ten key points.
1. Leveraging AI: Artificial Intelligence (AI) can streamline claims processes by automating task prioritization, drafting responses, and identifying document patterns, freeing up claims professionals for strategic work.
2. Building a Strong Subrogation Claim: Start with a comprehensive overview of the claim, collect and preserve evidence, secure witness statements and site investigations and complete a subrogation summary report. Engaging legal counsel early can further strengthen the claim.
3. Using Experts: Experts can clarify complex issues, assist in litigation, and provide credible testimony and they should be utilized when necessary. Retain an expert early and ensure they have relevant expertise.
4. Meeting Notice Requirements: Compliance with jurisdictional notice requirements is essential to avoid dismissals. File promptly and include specific claim details.
5. Evidence Preservation: Preserve relevant documents and digital records once litigation is anticipated. A formal litigation hold letter can safeguard evidence and clarify responsibilities.
6. Considering Litigation Costs: Weigh the high costs of litigation against potential recoveries. Alternative Dispute Resolution may offer cost-effective solutions.
7. Statute of Limitations: Understand applicable statutes of limitations and repose to avoid missed deadlines.
8. Detail in Complaints and Discovery: Prepare complaints with clarity and precision. Both claims professionals and attorneys should ensure thorough, timely responses in discovery.
9. Drafting Releases Carefully: Use clear, mutually understood language in release agreements, and avoid indemnity or waiver clauses that could expand liability unintentionally.
10. Preparing for Trial: When cases go to trial, meticulous preparation and understanding court protocols are critical, as trials can be costly and outcomes uncertain.
Interested in discovering how Weltman’s subrogation solutions can benefit you? Connect with Tiffani or Michael today to discuss our services!
These blogs are not a solicitation for business and are not intended to constitute legal advice on specific matters, create an attorney-client relationship, or be legally binding in any way.
These blogs are not a solicitation for business and are not intended to constitute legal advice on specific matters, create an attorney-client relationship, or be legally binding in any way.
