A contingent risk is any known legal risk that could have a negative impact on a company or asset’s value.
There are three elements:
- Uncertain future event (legal or non-legal)
- Legal nexus (legal right, contract or dispute)
- Loss (monetary)
Contingent Risk Insurance (CRI) is mainly used in a transactional context, but Gallagher can also help with special situations such as disputes, liquidations and shoring up balance sheets.
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