Like much of the world, Canada is seeing an influx of insurance disputes connected to COVID-19. As more and more insurers insist that their business closure contracts don’t provide protections during a pandemic—businesses and private citizen alike are seeking access to justice.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Like much of the world, Canada is seeing an influx of insurance disputes connected to COVID-19. As more and more insurers insist that their business closure contracts don’t provide protections during a pandemic—businesses and private citizen alike are seeking access to justice.
Canadian Underwriter reports that Litigation Funding is prepped and ready to help wronged Canadian policyholders get their due. CEO of Slingshot Capital, Ed Truant, tells the publication that in the context of scrappy individuals versus callous giants—Slingshot Capital is poised to help the Davids, not the Goliaths (a clear nod to the biblical tale from which this funding firm gets its name).
Canada is a relatively new player in the Litigation Finance landscape. As recently as four years ago, Canada had no lit funding firms. Truant points to Australia as the origin of the funding model. Because litigation funding works to the advantage of both clients and firms, its growing popularity is not surprising.
Personal injury cases also make use of litigation funding. Commonly though, these arrangements offer financial support to plaintiffs to hold them over until the insurance company payment is remitted. In commercial lawsuits, however, funding is usually offered when plaintiff claims exceed $10MM, or thereabouts.
