The Lawson Firm, LLC
Cleveland, Ohio - March 3, 2005.
The Lawson Firm, a Cleveland-based law firm providing legal services to the insurance industry, is offering a multi-part paper examining the business and legal risks associated with business-process outsourcing (BPO) and the strategies used to manage those risks. The paper is in response to recent studies showing that roughly half of all insurers currently outsource one or more business processes, or are planning to do so within the next 18 months.
According to firm-manager Scott Lawson , "Increasingly, insurers are taking a hard look at the strategic advantages and potential cost savings associated with BPO." Lawson further notes however that "balanced against those potential advantages are some substantial risks. Failing to select a qualified and compatible service provider, and to put in place a well-structured outsourcing agreement, may lead to costly operational problems or even significant business disruptions." According to Lawson, insurers should avoid signing the service provider’s standard-form contract and instead insist on a negotiated outsourcing agreement containing the proper safeguards.
The first installment in the series is available on the firm’s website: www.lawsonfirm.net.
The Lawson Firm, LLC ("TLF") is a Cleveland-based law firm focusing on insurance law, insurance regulation, corporate compliance, and general corporate matters. Further information about TLF may be found at www.lawsonfirm.net. TLF does not claim expertise in the laws of jurisdictions other than those in which our attorneys are licensed. The information contained in this article is intended to provide general information only and is not intended to provide solutions to individual problems. Readers are cautioned not to attempt to solve individual problems on the basis of information contained herein and are strongly advised to seek competent legal counsel. Certification in any of the practice areas mentioned above is not available in Ohio.
The Lawson Firm, LLC
2695 Hampton Road
Cleveland, Ohio 44116
www.lawsonfirm.net
Contact: Scott Lawson
Phone: (440) 409-0135
Email:slawson@lawsonfirm.net
