What To Do and How to Prepare When Your Company Gets Sued

Course details

Almost every business will, at some time in its existence, be sued. The suits may be false and fraudulent, a suit where there is a possibility you will be found liable to the plaintiff or a suit where you owe no liability to anyone.  Every insurer will face a suit for breach of contract or for causing damage to another person or entity as a result of negligent or intentional conduct. Every business, therefore, needs a proactive effort at risk management to avoid or limit litigation against it.

As contingent or unknown losses cannot be predicted by an individual business, it must manage the risk of loss by contingent events that will bring about suits seeking tort damages.

This course explains that risk management is the process of identification, analysis and either acceptance or mitigation of uncertainty in business.  Essentially, risk management occurs anytime a business analyzes and attempts to quantify the potential for losses in business. The curse also explains how to deal with a lawsuit that is filed naming the business as a defendant, including how to obtain insurance before the suit and how to deal with your insurer after a suit is filed.

We also discuss how to retain and control the work of defense counsel if the business is sued for a tort or breach of contract but not insured and explain reasons why to settle or not settle a lawsuit.

If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: What To Do When Your Company Gets Sued - And How to Prepare. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an 'approved-by-the-governing-body' CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.