Opinion: Why The Industry Is Wrong About Litigation Funding
Litigation funding provides companies and individuals with an important strategic tool. But a few leaders in the insurance industry warn us to “watch out” for litigation funding. They claim it could “significantly raise insurers’ costs.”
Good news: They’re wrong.
Writer Carl Sandburg said, “If the facts are against you, argue the law. If the law is against you, argue the facts. If the law and the facts are against you, pound the table and yell like hell.”
In the article, ’Watch out for litigation funding in Canada, industry execs warn,’ Bernard McNulty, chief agent of Canada for Allianz Global Corporate & Specialty, sounded like he was table pounding.
The reason litigation funding is growing in popularity is that it serves many different strategies. Think of it as a form of project finance for disputes. It is a risk transfer mechanism.