Insurance

Record-High $14.5 Billion in Nuclear Verdicts Challenges U.S. Restaurant Industry; Calls for Improved Safety Protocols and Insurance Strategies Surge

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In recent years, the phenomenon of nuclear verdicts, where juries award damages exceeding $10 million, has seen a significant rise in the United States. These colossal sums, which reached an all-time high of over $14.5 billion in total awards in 2023, pose a grave threat to the sustainability of businesses, particularly in the hospitality sector. Defined as judgements substantially higher than what would be typically awarded in similar cases, nuclear verdicts are not confined to one industry or incident type. They can stem from incidents as varied as disputes in restaurant parking lots to serious … Read more

UK’s Legatus Launches as a Groundbreaking One-Stop Shop for Litigation Funding, Insurance, and Legal Services

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London, UK — A pioneering business model has emerged in the UK’s legal sector with the establishment of Legatus Holdings Limited, a company that is revolutionizing the way litigation cases are managed and funded. Legatus, which includes Asertis alongside other subsidiaries like KP Law and an insurance management firm, is set to streamline the litigation process by incorporating a full spectrum of related services under one umbrella. This innovative setup was orchestrated by Philip Holden, the CEO at Legatus and former general counsel of Asertis. The restructuring aims to enhance the efficiency of legal financing … Read more

Texas Insurance Co. Sues Law Firm for Alleged Oversights in $11 Million Personal Injury Case

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Texas Insurance Co. has initiated a legal malpractice lawsuit against the law firm Hinshaw & Culbertson, claiming that critical information was withheld in a personal injury case. The dispute centers on the law firm’s alleged failure to adequately inform the company about the risks associated with joint and several liability, which subsequently led to a hefty $11 million jury verdict against one of its insured entities, a taxi company. According to the insurer, Hinshaw & Culbertson did not provide sufficient warning about the potential financial implications stemming from joint and several liability, a legal doctrine … Read more

Judge Triples Penalty for Alex Murdaugh’s Accomplice, Orders $3.75 Million Payment to Insurance Company in Fraudulent Settlement Case

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Columbia, SC – A significant legal ruling last week has tripled the restitution amount against Cory Fleming, an accomplice of Alex Murdaugh, increasing the payback to a staggering $3.75 million, a court determined. The additional hefty sum arises from attorney fees accrued by Nautilus Insurance Co., a setback to Fleming, who once served as a South Carolina attorney and close associate of Murdaugh, a convicted murderer known for his infamous criminal activities. Fleming came under legal scrutiny after it was revealed that he had aided Murdaugh in misappropriating millions from insurance settlements. Nautilus Insurance, which … Read more