The “Tackling Predatory Litigation Funding Act” was introduced in both the U.S. Senate and House to create a new tax for third-party litigation funding and to clarify it does not qualify for capital gains treatment, a loophole that currently allows foreign investors to pay zero U.S. taxes.
This week, Georgia Gov. Brian Kemp signed into law a comprehensive package of legal reform measures designed to restore balance and fairness to the state’s troubled civil justice system.
Third-party litigation funding has been an emerging issue over the past several years and its evolution is creating deeper ripples across the insurance ecosystem.
The American Property Casualty Insurance Association (APCIA) annual meeting this week focused on several hard market catalysts and the outlook for 2024.
The hearing investigated how outside capital is funding litigation against companies and agencies to achieve policy goals and examined the lack of oversight in this area.
