Common use of Claims Management Clause in Contracts

Claims Management. ▇▇▇ will serve a supervisory function and will monitor the progress of all claims, including requesting and reviewing reports from counsel, until claims are resolved or the limits are paid. NAS’ responsibilities include: 1. Retaining defense counsel, as appropriate; 2. Retaining coverage counsel, as appropriate; 3. Requesting periodic claim updates, litigation budgets, liability assessments, and settlement recommendations; 4. Liaising with supervising/coverage counsel and/or defense counsel (or vendors) regarding status of claims, with focus on prompt handling and early resolution, if and when possible; 5. Authorizing settlements and the engagement of experts or vendors;