While litigation finance is generally well-known in the US market, the concept of litigation insurance is less familiar to most attorneys.
Based in the Chrysler building in New York, and with offices opening in Los Angeles in July 2017, we are and licensed to arrange insurance in 46 US States. Rather than talk about our work and capabilities in the litigation finance market, in which we access over 25 funders globally, we’re highlighting some newer developments for the US lawyers.
We bring to the US market two products which are well-established in Europe – and which are designed to assist both commercial litigation lawyers and their clients to manage their litigation budgets and expenditure.
The first product, Contingency Fee Insurance, is designed to offer law firms a cost-effective way to manage their contingent fee risk exposure, by guaranteeing some fee income if the case is unsuccessful.
The second product, Attorney Fee Insurance, is designed for clients that prefer to finance some or all of their litigation budget from their own balance sheet, but still wish to mitigate their litigation risk by insuring some or all of their capital invested in financing the litigation. This is an ideal tool for in-house Counsel at medium to larger corporates as it allows them to share their litigation risk with insurers, but without the higher cost associated with litigation finance.
As noted in Bloomberg, one of our blue-chip clients and advocates of the benefits of litigation insurance, Air Canada, advised:
“We find litigation insurance to be a very cost effective way of hedging our risk.”
– Air Canada
These two products are highly bespoke and represent just a sample of our suite of available options. Unlike other companies in the market we sit on your side of the table. We work for either the law firm and/or their clients to identify the suitable options available and obtain the best terms we can from the market.
To learn more, and hear what various AM Law top 50 law firms have to say, click the links below:
Have a case? Speak to us first to better understand the full range of options [click here]
Hear what Global 100 Law Firms have to say about TheJudge – [click here]