Entries by lcp

Level Insurance: Mitigating Downside Risk In Contingency Cases

The two Florida lawyers created a litigation insurance product called Litigation Cost Protection. The company began offering policies in 2016 in five states. It is now offering policies in 49 states including North Carolina. The policies are underwritten by Aspen Specialty Insurance Company, an “A” rated carrier.

Utah Bar Opinion No. 19-01

ISSUE 1. Is it permissible for a firm to charge the cost of a litigation insurance policy to the client if the firm recovers funds for the client, through a settlement or positive trial verdict, and the client’s liability for payment of costs is contingent on a recovery? OPINION 2. A firm may charge the […]

No Money? No Problem! How Litigation Insurance can Help You Offset the Financial Risk of Litigation (Part 3)

Historically, defendants have obtained insurance policies for litigation cost protection. Industries and professions that are especially litigious often have multi-million liability policies purchased in advance to carry the costs of defending lawsuits and malpractice claims. Meanwhile, plaintiffs and their attorneys who work on a contingency basis have shouldered the financial risks of litigation, which limits […]

North Carolina Ethics Opinion

The North Carolina Bar Approves Passing Your Litigation Cost Protection Premium to Your Client 2018 Formal Ethics Opinion 6 Shifting Cost of Litigation Cost Protection Insurance to Client Adopted: July 27, 2018 Opinion rules that, with certain conditions, a lawyer may include in a client’s fee agreement a provision allowing the lawyer’s purchase of litigation […]

Litigation insurance costs may be passed to clients

The U.S. legal services market has within the past five years warmed up to the idea of litigation finance, a practice first adopted in Australia and then the U.K. A well-known British-based broker of litigation funding, TheJudge Group Holdings Ltd., will announce Wednesday it is launching in the U.S. with hopes to grow domestic awareness of another across-the-pond legal financial product: Litigation insurance for plaintiffs.

Florida Bar Staff Opinion 37289

Revised as approved by The Florida Bar Board of Governors by vote of 23-17 on January 26, 2018 Florida Bar ethics counsel are authorized by the Board of Governors of The Florida Bar to issue informal advisory ethics opinions to Florida Bar members who inquire regarding their own contemplated conduct.  Advisory opinions necessarily are based […]