Jack McCalmon, president of The McCalmon Group Inc. in Tulsa, Okla. and partner at Titus Hillis Law Firm in Tulsa, advises risk managers to get involved early and often with their company's litigation—and to lobby for settlements as the best cost-control strategy.
"Typically, if you're managing for cost—which is wise because you should never bet on litigation—then you're looking to settle as early as you can," he advises.
The economics of the legal field, he explains, mean that a plaintiff attorney who has taken a case on a contingency fee also has a vested interest in settling.
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