General Counsel Q&A: Risk Transfer with Class Action Settlement Insurance
Seth Hopson, the former General Counsel of North American Power and Gas, discusses his experience with class action litigation and the benefits of class action settlement risk transfer. Can you tell us about your role within the company? I was the General Counsel of a retail energy company serving 300,000+ retail and small commercial customers in the New England, Midwest and Southern regions of the United States. As such, I was responsible for all litigation and risk management on the legal and regulatory side of the business. How frequently was your organization impacted by litigation? During the seven years from the inception of the business until the sale of the business, we went to trial once and were also involved in a multi-state class action litigation covering a potential customer class of over 700,000 current and former retail residential customers. That matter included allegations that the company breached our terms of service...
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