Current process challenges
The current process of litigating and managing construction defect claims is flawed: time consuming, inefficient and expensive. It is plagued with the following challenges:
- A typical claim takes, on average, two to three years to settle.
- It is estimated that most insurers are paying out $2.50 for every $1.00 they collect in premiums for construction dispute insurance.
- The cost to litigate is often in excess of the indemnity – that is, the legal expenses are amounting to more than the cost for losses, repairs, or replacements.
- The Building Industry Association estimated that litigation costs may exceed indemnity by as much as five to one.
- There is rarely effective project management processes used to guide the case, resulting in endless (not to mention expensive) litigation.
Sound familiar to you? Read on for an alternative…
Enter: the LiMa Solution
Utilizing decades of experience in handling construction related litigation and claims, LiMa Solutions has developed an accelerated, cost effective and fair method to investigate and resolve litigation and claims.
Through stakeholder participation and Neutral Expert based analysis, our approach works to identify issues in advance and guide them through to resolution quickly. Our sophisticated process blends in with existing construction project management systems.
Who we work with
LiMa Solutions works with owners, builders, mediators, lawyers and insurance carriers to provide solutions that reduce claim/litigation costs and time while improving the road to resolution.