Credit: Feodora/Adobe Stock Liability Forecasting and Why It's Vital for Mass Tort Settlements
Liability forecasting is a practice best understood through the three areas it analyzes: (i) the risks and injuries created by a product and its use, (ii) claims filed and approved, and (iii) finances.
September 01, 2023 at 10:00 AM
8 minute read
Liability forecasting plays an important role in mass tort settlements. One effect of the four-decades-long asbestos litigation is that defendants in mass tort cases often create large settlement trusts through which they compensate current and future claimants for their injuries. Historically, settlement trusts have encountered two challenges that show the need for their leadership to forecast current and future liabilities.
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