A press release, but interesting nonetheless, James River Insurance and Progressive join Farmer’s and Allstate as providers to all rides, “Every Uber driver-partner is covered while online; from the moment a driver turns on the app to wait for a trip request, while driving to pick up a rider, and until the trip ends. There is also protection for riders during an Uber trip.”
This Above the Law article studies litigation finance, alternative dispute resolution, and online dispute resolution as areas of innovation. As to the first, , “Taste the Soup!”discusses a number benefits of the legal funding industry of which we’re all aware of: enfranchisement for underfunded plaintiffs, , mitigation of risks for well-funded businesses and people, facilitation of global recourse, and access for litigants to the best and most appropriate lawyers and firms.
No surprises here, the answer is: “they are both non-correlated investments.” Nonetheless, an interesting analogy and also a few bold prediction, such as that investors will continue to pour money into the industry, profits will compress with new entrants, and pressure will increase for law firms to be publicly traded.
The Chevron disclosure notwithstanding, this article gives a rundown of the commonly-tried but rarely-won attempts to legally compel disclosure of funding agreements. Readers learn, among other things, that one of the reasons this effort is so difficult is that agreements are protected by the work-product privilege, citing a variety of cases, as well as the NYU Journal of Law and Business paper “Alternative Litigation Finance and the Limits of the Work-Product Doctrine” as support.
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