The Braer tanker disaster in 1993 was our first introduction to a Group Claim where there were many claimants seeking compensation from a single party as a result of a single event. After the Braer came the Sea Empress, Erika and Prestige oil tanker disasters and we were able to develop and hone claim management and data gathering techniques that not only benefited the individual claims but also the claims as a group through a consistency in approach and a validation of the supply chain metrics. In simpler terms the sales agents cannot claim for more fish than is caught by the fleet!
Where liability has not been admitted we are able to use the experience and skills described under Liability Denied but applied to a group scenario. In this case there are a larger number of variables and costs that must be considered when approaching the market to fund the action. What are the similarities and differences of each case from a loss as well as a legal perspective? How is communication with a large group to be handled efficiently and at the end when the legal argument is won is there still a question of determining loss in each case?
Using our experience in assessing loss and with group actions we are able to build flexible models that enable funders to see potential returns and claimants to appreciate the increase in percentage of claim that will be retained as the group increases in size and costs are shared. This transparency ensures that not only the legal action can be funded efficiently but that the distribution of settlement net of costs and funders return is fair and understood.
We have a wide range of experience of such events some of which are set out below.