The Benefits of Working with a Skilled Settlement Administrator

by | Jul 2, 2024

Verus has been serving as a settlement administrator for a growing number of class actions, mass torts and asbestos settlement trusts since its inception in 2004 and to date has managed over 50 personal injury trusts, class action settlements, and other mass tort projects. Over the last twenty years, Verus has resolved approximately 7 million claims and distributed over $7 billion in settlement funds to injured parties, working with hundreds of attorneys and law firms who have filed claims on behalf of their clients. 

A key factor in effectively administering claims is ensuring that the provisions laid out in the governing settlement documents are scrupulously followed, ensuring that the settlement process is consistent, fair and equitable for all claimants. It’s also incumbent on the administrator to ensure that all stakeholders understand the settlement process. Verus’ claim reviewers are trained to understand the applicable criteria for each settlement as well as any terms or conditions that may differ from one agreement to the next. Verus recognizes and understands that the fair and efficient resolution of any settlement process depends substantially on the procedures employed to resolve claims or cases, and buy-in into the procedures by all.  Care must be taken to share all the relevant information necessary to ensure the orderly filing and processing of claims, including claim forms,  filing instructions, as well as the terms and conditions claimants must meet in order to obtain compensation. As part of this process, we have worked with law firms to ensure that they understand the criteria of each settlement, and we engage in ongoing feedback with claimants through our dedicated support team. Responsiveness when questions arise is key to avoiding costly and unnecessary delays in administration.  

In addition to its in settlement administration, Verus has become a leader in assisting law firms with their class action and mass tort projects. Our user-friendly proprietary case management platform offers the same services to firms filing claims in class actions and mass torts, including the detailed reporting on filings and deficiencies, data and document transfer and data collection. Verus understands the priority of most law firms is to ensure that their client(s) have a favorable experience in dealing with any administrator, and the ability of the law firm to maintain control of their cases in the form of real time reporting on the status of cases as they progress through the litigation and resolution process. 

The transparency that is built into our service offerings helps to ensure that law firms have the information they need to to make timely decisions on behalf of their clients. 

As a result of Verus’ experience and expertise, law firms are given the tools they need to effectively file, manage and ultimately resolve their claims, offering their clients the best chance to be deemed eligible for compensation under the terms of the settlement process.  

Discover how Verus can streamline your settlement processes and enhance your client satisfaction. Contact us today to learn more about our comprehensive administrative services and see how we can help you achieve optimal outcomes for your cases. 

 

 

 

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