Third-party litigation financing have become big business across the country, much to the chagrin of businesses and insurance companies that have faced multi-million lawsuit verdicts. But now one Florida-based litigation funding firm, which has loaned money to plaintiffs in a …
Mastercard Inc. unfairly reduced a £10 billion ($12.6 billion) class action case to a settlement of just £200 million, according to the firm that funded the lawsuit. The credit-card company “skillfully maneuvered” claimant Walter Merricks and his lawyers by offering …
Swiss Re Institute (SRI) made a significant contribution to the literature on social inflation and its impacts on insurers, reinsurers and their customers with the calculation of a new measure—a social inflation index. (Related article: US Nuclear Verdicts Break Records …
Nuclear verdicts in the United States are breaking records with 27 court cases each awarding compensation of more than US$100 million during 2023, according to Swiss Re executives. Social inflation in US rose to 7% in 2023 – a 20-year …
Banks in the UK are embroiled in the highest number of lawsuits in a decade in a trend that shows no sign of slowing down. Almost three new cases involving financial services firms were filed every day on average at …
A majority of Americans are unaware of third-party litigation funding but most believe state and federal laws should be changed to address abuses in the legal system. According to the results of a recent survey of 2,000 people conducted by …
Two pieces of legislation that could help reduce losses and litigation costs for insurance carriers are moving in the Florida Legislature: Litigation funding restrictions and changes to the state’s home-hardening program. By a vote of 15-5, the Senate Fiscal Policy …
A former attorney for McClenny Moseley & Associates, who was accused of dishonesty while participating in his law firm’s filing of hundreds of hurricane-damage lawsuits, agreed last month to a nine-month suspension of his law license in a settlement with …
A Florida injury attorney who led a class-action lawsuit on behalf of former NFL players, then defrauded his clients out of millions of dollars, is in federal prison after he was sentenced to 14 years. Phillip Timothy Howard, 62, who …
Fortress Investment Group LLC is pitching an investment opportunity within an increasingly popular yet controversial corner of finance — funding other companies’ legal battles. The private equity firm is raising its second fund to invest in legal assets, having already …
