Business owners should select their litigation counsel with the same care that they would use in selecting a physician for their personal health needs. The key criteria in selection are: (1) quality of legal education (i.e., top-10 law schools); (2) extent of trial experience (i.e., dozens of prior trials), and (3) depth of relevant experience (i.e., insurance issues). The most overlooked criterion is the lawyer’s knowledge of the interplay between litigation and insurance. Approximately 90% of litigation in the U.S. is funded by insurance, such as general liability insurance, employment practices insurance, or “rep & warranty” insurance.
Damage to a business often results not only in property damage, but also in business interruption losses. Because financial experts have widely different opinions, and rely on radically different assumptions, the adjustment of these losses can vary by millions of dollars. There is no substitute for hiring a determined and skilled advocate in negotiating — and litigating if necessary — such business interruption claims with the assistance of appropriate financial, accounting, and other experts.