Third-party litigation funding (TPLF), also known as legal funding, third-party litigation finance, or alternative litigation financing, involves a third party investing in a lawsuit and receiving a percentage of the proceeds if the lawsuit is successful. TPLF can benefit both individual and corporate claimants. While the exact figures are uncertain due to the lack of transparency in this practice, Swiss Re, an insurance company, estimates that the global TPLF market will reach $30 billion by 2028, with the United States being the largest market. Swiss Re also reports that TPLF investments have recently generated internal rates of return of 25% or higher. As the prevalence of TPLF continues to rise, it is crucial to understand this trend and its implications.
DSP recently teamed up with Feed My Starving Children to pack meals for impoverished children in Haiti. This volunteer session packed 58,104 meals, which will feed 159 children for a year. Visit www.fmsc.org to learn more about this great charity.
Is there anything better than serving (or drinking) a draft beer straight from a bright tank? This is as fresh as the beer can get and it’s no wonder that many tap rooms across Illinois and the USA have moved to models where beer is served directly from the bright tank to the consumer. Not only is it extremely cost efficient, but incredibly delicious as well!
Coronavirus is continuing to spread with cases reported in 22 countries around the world. The article below contains a brief overview of the virus and outlines the various laws that an employer must consider in the event that any of its employees have been or reasonably may be exposed to the virus, including OSHA, FMLA, ADA, workers’ compensation and premises liability.
Each year, the Occupational Safety and Health Administration (OSHA) collects work-related injury and illness data from employers. This data collection is called the OSHA Data Initiative (ODI).
In 2023, the U.S. trucking industry faced a series of overwhelming challenges, leading to the closure of nearly 88,000 trucking firms—around 10% of the nation’s total. The primary drivers were rising operational costs, especially as driver salaries and legal expenses soared. These factors, in turn, pushed up trucking insurance costs, creating a difficult cycle of shrinking profit margins and higher costs for goods transported by trucks. As these increased expenses trickled down, the impact was felt in prices for everyday goods, affecting both businesses and consumers alike. (Source: Legal System Abuse Hammers Truck Insurance)
Contractual risk transfer (CRT) is a risk management strategy commonly employed by businesses to shift potential liability to another party through non-insurance contracts or agreements. The objective is to transfer risk to the party (e.g., vendor, supplier, subcontractor) to the at-fault party.
In late October 2019, the Federal Reserve announced they would lower the Federal Funds Interest Rate by a quarter of a percent. This was the third such decrease of the year. What impact does this have on the commercial property & casualty insurance market and the annual premium paid by a business? In general, when interest rate falls, insurance premiums tend to rise. The rationale behind this is tied into the two ways that commercial insurance companies typically generate revenue; Underwriting Operations and Investment Activities.
DSP is pleased to announce that our very own Bryan Adams has been appointed to the Board of Directors of the Chicago ASA. We are proud to be part of ASA’s mission in supporting the Chicagoland construction industry.
As cyber attacks become more and more common, protecting your data is increasingly difficult. In fact, a study from Juniper Research found that by 2023, cyber criminals are expected to steal an estimated 33 billion records.