What does litigation refer to?

Litigation refers to the process of taking legal action, typically in a court of law. This involves one party initiating a lawsuit against another party, thereby seeking a resolution to a dispute through legal proceedings. The entire legal process includes various stages such as filing a complaint, conducting discovery, presenting evidence, and ultimately reaching a judgment or settlement.

In the context of insurance and business, litigation is relevant when disputes arise over claims, contracts, or legal responsibilities. Understanding litigation is crucial for business analysts as they may need to evaluate how legal actions can impact insurance policies, claim costs, and overall business operations. This knowledge helps analysts effectively navigate situations where legal actions are necessary to resolve disputes or enforce rights.