DALLAS, Nov. 19, 2014 /PRNewswire/ -- Class Action Managing General Agency (CAMGA), an industry leader in class action risk assessment, consulting and insurance, has selected Marsh, a global leader in insurance brokerage and risk management, as the exclusive broker for its Class Action Settlement Insurance.
CAMGA developed Class Action Settlement Insurance (CASI) to bring certainty to an uncertain world of class action settlements. CASI offers up to $100 million in coverage for the monetary portion of an insured's class action settlement and is underwritten by a leading A-rated carrier. To date, companies have already insured millions of dollars in class action claims made settlements using this unique coverage.
Along with its affiliate Class Action Insurance Consultants, "We provide guidance and solutions," says Founder and President Joel M. Fineberg. "Our team of lawyers, actuaries and consultants use a data-driven approach to advise companies on risk mitigation strategies for class action settlements. Armed with data and unique expertise in risk mitigation, we provide access to the only post-lawsuit settlement insurance in the marketplace at compelling costs. So now, companies can find a pathway to resolution which provides peace, certainty, finality and other financial benefits at a known cost."
According to David Diamond, CAMGA COO, "We are both excited and honored to be working with Marsh to provide CASI to the broader market."
As a result of social media, claims aggregators, online settlement promoters and 24/7 news cycles, companies face tremendous financial uncertainty from class action settlement liability. Class Action Settlement Insurance allows companies to design a settlement to meet their budget while capping all of their financial risk and exposure from the first valid claim until the last.
CAMGA has developed CASI and other unique financial risk mitigation products. CAMGA is a licensed managing general agency and has licensed insurance agents and producers.
SOURCE Class Action Managing General Agency