The Insurance Industry in a Nutshell for New Attorneys (MLCD53H)

  Pre Recorded Webinar
  60 minutes
Multiple Participants?
Call 1-800-223-8720
for a group pricing

Attend this session and examine the Insurance Brokerage distribution options together with Licensing and its implications.

This Webinar by our expert speaker, Frederick J. Fisher, will focus on what is this “thing” called the Insurance Industry? We will briefly explore what are Insurance Co.'s. - their structures, and how they functions on a day to day basis. How are Products created and distributed? We will examine the Insurance Brokerage distribution options together with Licensing and its implications. What are the different Claim Department Models and well as staffing and functionality together with why Reserves are posted. Finally, we will examine the issues of claim processing and resolution issues and current trends facing the Industry.

There will be an elaborate power point and current article reprints on the subject. A number of fresh attorneys are entering the defense industry. Some of them may involve in defending Adjusters and Risk Managers involving E&O claims or Bad Faith and insurance brokerages. In this session you will get an overview of the insurance industry, it's functioning including its day to day operations. This will be beneficial for you as insurance is not traditionally taught in law school. For example, would a first year associate know about the licensing that may be required by the Brokers, or the potential significance to an insurer being non-admitted? Therefore, different product distribution models will be reviewed in depth.

There are many different Claim department organizational models. They will be explored. In addition, the functions such as reserve setting, ramifications of diminishing limits policies and communication with Re-Insurers are equally explored. Terms, such as Expense to loss rations, loss runs, and claim audits will be defined in context. Do associates understand that the overall goal is to close the file as effectively as possible?  Finally, there will be a discussion to being a good lawyer vs. being a good problem solver and deal maker.

Session Highlights:

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Frederick J. Fisher, J.D. is the President of Fisher Consulting Group, Inc. and was the Founder of E.L.M. Insurance Brokers, a Wholesale & MGA facilityspecializing in Professional Liability and Specialty Line risks. He is a Member of the Editorial Board for Agents o... More info