Surge in Legal Advertising and Third-Party Funding Drives Up Insurance Rates, Experts Warn
New York — A recent report from the Insurance Information Institute indicates that a significant uptick in attorney advertising, mass tort litigation, and third-party funding for lawsuits is closely linked to rising insurance costs in the United States. Research by the American Tort Reform Association reveals that legal service providers allocated over $2.5 billion to 26.9 million advertisements in 2024 alone, marking a staggering increase in advertising across television, radio, and outdoor platforms since 2017. Television ad placements hit a peak in 2023, totaling 16.4 million — a 44% increase since 2017. Radio advertisements exceeded … Read more