Legal Funding Journal’s Post

Subrogation Litigation Subrogation disputes add complexities beyond typical insurance litigation. For property and casualty insurers seeking reimbursement, successfully serving case documents requires navigating a web of challenges. This article explains why our specialized legal services firm is equipped to handle the subtleties of serving process across subrogation matters. Subrogation #claimsmanagement #insuranceclaims #LegalServices #litigationsupport #processserver

Navigating Insurance Disputes with Mediation Insurance disputes can be stressful and time-consuming, often leaving policyholders and insurers at an impasse. At La' Rougé De Providence, we offer insurance mediation services designed to resolve conflicts efficiently and equitably. What is Insurance Mediation? Insurance mediation is a process where a neutral mediator helps policyholders and insurance companies come to a mutually acceptable resolution regarding claims, coverage, or other insurance-related issues. Mediation provides a structured environment where both parties can discuss their concerns and work towards a settlement without the need for protracted legal battles. Benefits of Insurance Mediation: Efficiency: Mediation can resolve disputes faster than traditional litigation, saving time and reducing frustration. Cost-Effective: It typically costs less than going to court, making it a more budget-friendly option for both parties. Confidentiality: Mediation sessions are private, protecting sensitive information from becoming public record. Flexible Solutions: Mediators can help craft creative solutions that meet the needs of both parties, which might not be possible through a court ruling. Preserved Relationships: Mediation fosters open communication, helping to maintain a positive relationship between policyholders and insurers. How It Works: Request Mediation: Both parties agree to participate in mediation. Preparation: The mediator prepares both sides, outlining the process and setting expectations. Mediation Session: The mediator facilitates discussions, helping both parties to understand each other’s perspectives and negotiate a fair settlement. Resolution: If an agreement is reached, it is documented and can be used to finalize the dispute. At La' Rougé De Providence, our skilled mediators are dedicated to guiding you through insurance disputes with expertise and care. If you’re dealing with an insurance issue and want to explore mediation, reach out to us to learn how we can help you find a resolution. Your Partner in Peaceful Negotiation #InsuranceMediation #ConflictResolution #InsuranceDisputes #MediationServices #PolicyholderSupport #InsuranceClaims #DisputeResolution #CostEffective #ConfidentialMediation #LaRougeDeProvidence

Today the Professional Liability Underwriting Society (PLUS) launched the 3rd video of the "ERISA FIDUCIARY LAW: the Good, the Bad, and the Ugly" series. Part III is on the basics of the fiduciary liability insurance policy. Many thanks to my guest Alison Martin for providing her expertise and insights on this topic! #Fiduciary #ERISA #Insurance Fox Rothschild Professional Liability Underwriting Society

Litigation Funding: How Insurance Covers All Bases Following up on my previous posts about litigation funding, one essential element that deserves attention is the role of litigation and contingent risk insurance. These products act as a safety net, mitigating the financial risks involved in high-stakes legal disputes. Here’s how they work: 🔹 After-the-Event (ATE) Insurance: Protects against the “loser pays” rule, covering legal fees and costs of the opposing party if the case is unsuccessful. This frees up working capital and provides security for businesses entering litigation. 🔹 Judgment Preservation Insurance (JPI): Ensures that a favorable lower court judgment or arbitral award is protected against reversal or reduction on appeal. It safeguards the plaintiff’s financial interests even after a successful ruling. 🔹 Contingent Risk Insurance (CRI): Addresses low-probability but high-severity risks such as regulatory actions or adverse legal interpretations. By insuring these uncertainties, funders and businesses can move forward with confidence. Some litigation funders take a multi-layered approach to managing risk. They rely on internal and external teams of barristers, solicitors, and legal experts to carefully assess cases. In addition, insurers also review the case to ensure it meets their coverage criteria. This ensures a comprehensive evaluation before committing to funding. I’ll be posting more soon about how to navigate the complexities of litigation funding insurance to ensure the best protection possible. What’s your experience with litigation funding insurance? Is this an asset class you are interested in?

Really privileged to chat about the current trends and issues in the growing intersect of insurance and legal finance with an all-star panel in London at the inaugural Dealmakers Forums European conference. Many thanks to co-panelists Verity Jackson-Grant, Tamar Katamadze, and Jamie Molloy for the interesting and lively discussion. Some key takeaways: 1. Insurance is truly being innovative in this space -- something that can be surprising for folks that have limited interactions with the wider insurance community. It's part of the natural evolution to the legal finance market, and it's complimentary to it. 2. Mosaic Insurance's new solution for sovereign default in international arbitration is a good example of this. Ditto what Ignite Specialty Risk and others can do in the ATE and capital protection space. This is exciting! 3. BUT, there are limits to what insurance can do, and where it can play. Insurance underwriters are seeking long term, sustainable trades with law firms, legal investors, and litigants. This has to be understood and taken into account before bringing a risk to market. 4. The jargon! JPI, AJI, ATE, WIP, CPI, the other CPI, "wraps", ROL, D&C -- it's endless, and can be confusing. But all these solutions actually set about to solve the same core issues and have logical market principles behind them. 5. What do you? How do you navigate this sprawling area? It's admittedly self-serving, but the reality is you need a seasoned broker with true expertise in the area and deep market relationships. And you should bring them in early to position a risk the right way in the market. We've deliberately built the largest and best team in the business at CAC Specialty in order to provide this level of service. 6. And if you're a lawyer in this space, you should be trying to get as educated as you can about the art of the possible to properly advise clients and best position your law firm. Simmons & Simmons use of Verity Jackson-Grant is brilliant in this way, and should be seen more at law firms.

Insurance Litigation Alert 📣📣 I am excited to share that together with my colleague Chrystalla Hadjigeorgiou, we have contributed to the Chambers and Partners Global Practice Guide on Insurance Litigation 2024. The Guide provides a comprehensive analysis of the latest legal information on: 🔹Alternative Dispute Resolution (ADR), 🔹The enforcement of foreign judgments, 🔹The applicability of the New York Convention, 🔹Coverage Disputes, 🔹Claims against insureds, 🔹Insurers’ recovery rights, 🔹The impact of data concerns and climate change on insurance litigation. You can find our Chapter in the link below! #ChambersandPartners#PracticeGuides #InsuranceLitigation https://lnkd.in/gWMudVmH

My latest article for Elysium Law looks at Professional Indemnity Insurance (PII) and addresses: - What is PII and when is it required; - The impact of PII on the viability and settlement of claims; - The role of insurers in defending claims and influencing litigation strategies; - Strategic considerations for obtaining/disclosing insurance details; - The risks associated with uninsured professionals and policy exclusions. Read more here: https://lnkd.in/ehbtTdDM #ProfessionalNegligence #ProfessionalIndemnityInsurance #PII #Insurance #LegalInsights #Litigation #Negligence #ElysiumLaw

Unlocking the potential of resolving insurance claims through mediation: Insurance claims, whether by policyholders, third-party claimants or insurance providers in most instance, inevitably end up in the courts for resolution. The usual rigmarole of litigation ensues together with the attendant high costs. Mediation, as a dispute resolution option, is often overlooked. What parties opt out of, whether deliberately or through lack of proper information and knowledge, is a process where the parties enjoy autonomy, control of the process and outcome while expressing their concerns and perspectives. The process is comparatively faster to litigation, and the parties are more involved throughout the process to reach an amicable negotiated settlement. The general benefits of a mediation process allows for a more participatory process for the disputing parties that is cost effective, fair and inclusive. Insurance Regulatory Authority, Association of Kenya Insurers [AKI]

🔷 Why Legal Professionals May Need Additional Professional Indemnity Insurance 🔷 All legal practitioners benefit from a standard level of indemnity under the Legal Practitioners Indemnity Insurance Fund (LPIIF), which provides coverage based on the number of principals in the firm. This is referred to as the LPIIF "Master Policy." However, the coverage provided under this policy may not be enough to meet the unique needs of every legal practice, which is why additional or "top-up" Professional Indemnity (PI) insurance may be necessary. Attorneys, advocates, and legal professionals are responsible for providing expert advice and representation, but even with the best of intentions, errors can occur. This is where PI insurance—and additional cover—becomes essential to protect your practice from potentially costly claims. Here are five examples of risks that legal professionals face and how a PI policy can protect them: Incorrect Legal Advice If a lawyer provides incorrect advice that leads to financial loss for the client, the PI policy would cover legal defense costs and any compensation awarded. Missed Deadlines An attorney misses a critical court filing deadline, resulting in the dismissal of their client’s case. In this case, the policy would step in to cover defense costs and potential damages. Conflict of Interest A lawyer fails to disclose a conflict of interest between two clients, leading to a claim. PI insurance would cover the legal defense and any settlement costs. Breach of Confidentiality An advocate unintentionally discloses confidential client information, causing reputational and financial harm. The PI policy would cover legal expenses and any compensation required. Failure to Identify a Legal Precedent A lawyer overlooks a key legal precedent, resulting in a lost case for the client. The PI policy would respond by covering the costs of legal defense and any damages awarded. These examples highlight just a few of the many risks that legal professionals face. Having the right Professional Indemnity insurance is crucial for protecting your peace of mind, your business, and your reputation. 📞 Contact our team at Southern Cross Risk Management today to discuss your PI insurance needs and ensure you have the right cover in place. Protect your future and safeguard your practice! #SouthernCrossRiskManagement #ProfessionalIndemnity #LiabilityInsurance #RiskManagement #SouthAfricanLaw

Hera Indemnity is in its 20th year of assisting law firms in the placement of their professional Indemnity insurance, we have had major success due to our understanding of the intricate risks and challenges you face as a solicitor within the legal service sector. Our successful strategy around placement provides long term sustainability and consistency which provides our client with the security of renewal year on year. Starting your firm’s professional indemnity insurance renewal process early gives us the ability to approach all relevant Insurers on your behalf, this will allow us to obtain competitive premiums through our trusted relationships, delivering exceptional service. The criteria for obtaining terms from our insurer partners is as follows: 2-10 Partner Firms Will consider all different work types including 100% conveyancing practices Will consider, Partnerships, Limited Companies, LLPS and ABS’s We also have access to dedicated risk management partners who collaborate with your firm to proactively manage and mitigate your potential risks. Our in-house claims management team will offer you guidance, support and professional expertise in helping to navigate any potential liabilities.