Litica has announced the acquisition of further insurance capacity to support its continued growth and expansion, which will allow it to provide up to around $40million of coverage on a per case basis (the largest in the ATE insurance market), with substantially more capacity available for portfolio transactions.
Andrew Watson, national head of class actions at Maurice Blackburn, welcomes “the return to sanity on regulation of litigation funding” in Australia, while criticising recent Australian court decisions, such as the BHP shareholder case and the Ruby Princess case, as muddying the class actions landscape.
After the event (ATE) insurance provider Litica has announced recently passing the significant milestone of insuring £750million of exposure across its book of litigation-based insurance. This announcement comes shortly after the news that Litica has exclusively provided the capacity for a new fund launched by Omni Bridgeway.
Jacob Varghese of Australian law firm Maurice Blackburn marvels at how the digital revolution has bizarrely increased the overall cost of litigation despite the world becoming more productive in many other areas and points to litigation funding as a tool that corporate counsel should embrace – not to make litigation less expensive – but to make losing less expensive.
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