Insurer launches new legal risk business
New York-based Palisade Insurance Partners, LLC, an independently operated specialty managing general underwriter, today announced the launch of its business to provide a range of contingent legal risk insurance and other specialty insurance products across the U.S. and International markets. The business will focus on insuring litigation and other contingent risks that are instrumental in helping insureds manage and transfer risk associated with legal, tax, and transactional situations. Palisade is led by President John McNally, a veteran insurance industry who brings two decades of specialty insurance underwriting experience.
By leveraging its unique expertise and ability to underwrite all legal-related risk types, Palisade seeks to meet the growing demand for specialized insurance capacity across the legal spectrum, including from corporate clients, law firms, asset management funds, specialty finance vehicles and litigation finance firms. Palisade’s expertise extends to risks on both the plaintiff and defendant sides of litigation, and its products will be designed to address risks relating to both legal assets and legal liabilities. The Company is actively building its team of underwriting professionals and intends to begin offering products in the second half of 2022.