Fortune 500 Company Benefits from McGriff's Claims Expertise
A Fortune 500 company issued a broker of record letter to McGriff shortly after being named in shareholder class action and derivative litigation. This particular company moved business from one of the largest international insurance brokers to McGriff based upon McGriff’s claims expertise and experience placing complex and distressed risks. The company’s General Counsel and Board settled the litigation for an amount in excess of $150 million before a ruling on the motion to dismiss and without the express approval of numerous carriers in the company’s tower of D&O insurance. We assisted the client with research regarding shaving of limits and negotiated settlements with excess carriers, and we facilitated a successful in-person mediation in Bermuda with one of the lead excess markets.