As social inflation continues to drive increases in claims severity, juries should know when plaintiffs are backed by third-party litigation funding, said Mike Fallon, president of major accounts, Liberty Mutual Global Risk Solutions. He spoke with Insider Engage at RIMS 2022 in San Francisco.
Brazil is a country famous for its biodiversity. These days, one can even find a really rare species there: insurance underwriters that must fight tooth and nail for a clients’ business.
As the costs of legal liability in the US soar, there are increasing concerns of the impact third-party litigation finance (TPLF) might have on insurers and consumers and this had led to action being taken towards mitigating the effects of social inflation.