On April 11, 2016, the New Brunswick Court of Queen’s Bench set a precedent when it held that a third party financing and indemnity agreement was protected by litigation privilege. This decision was part of a motion to approve the FIA in the putative class action, Hayes v. The City of Saint John (“Hayes”). Koskie Minsky LLP and McKiggan Hebert act as counsel for the plaintiff in Hayes.Read more
An Ontario court has awarded $800,000 in damages — 25 times more than the defendant initially offered — to a 45-year-old injured man after his lawyer obtained LISC legal cost protection and levelled the playing field between the plaintiff and the defendant’s insurance company, says BridgePoint Indemnity Company chairman and CEO John Rossos.
“This case gives an excellent example of how a lawyer artfully used legal cost protection, or what is otherwise considered ‘new technology’ in a way that created a massive shift in the fortunes of his client,” he tells AdvocateDaily.com.Read more
TORONTO, March 8, 2017 /CNW/ – LISC Risk Management Inc., formerly BridgePoint Indemnity Company Inc. (“LISC”), is pleased to announce that LISC Legal Cost Protection™, a new legal expense insurance product underwritten by Omega General Insurance Company, is available for personal injury litigation. LISC Legal Cost Protection™ has been fully approved by Canadian federal and provincial financial regulators and is now available to new clients across the country.Read more
For personal injury lawyers launching a lawsuit, the standard of care is evolving to include advising clients of the availability of legal cost protection, or as European insurers operating in this market refer to it, ‘after-the-event’ (ATE) insurance, BridgePoint Indemnity Company chairman and CEO John Rossos tells Law Times.
As the article notes, Ontario courts are currently considering the treatment of ATE legal cost indemnities and insurance, which allow litigants to protect themselves from the risk of a cost order and can also be provided as a blanket guarantee for a law firm that needs protection for its disbursements.Read more
A recent Ontario Superior Court of Justice decision highlights important legal issues concerning privilege as it relates to indemnity and funding agreements, says BridgePoint Indemnity Company Chairman and CEO John Rossos.
“This matter is instructive because it emphasizes the need for counsel to claim privilege for these types of agreements to ensure the client’s interests are properly protected,” he tells AdvocateDaily.com.Read more
Since BridgePoint Indemnity Company (Canada) Inc. (LISC) introduced LISC Legal Cost ProtectionTM to the Canadian legal market, a fundamental question posed by the personal injury bar is whether the indemnity fee charged is recoverable from the defendant. Until recently, there has been no Canadian decision addressing this issue.Read more
One of the advantages that LISC Legal Cost ProtectionTM from BridgePoint Indemnity Company (Canada) Inc. (“LISC”) offers is that it is a useful tool in defending motions or applications for security for costs. We have previously written about the outcome of such motions and applications on this blog. A decision released by the Ontario Superior Court of Justice on July 21, 2015 reinforces the court’s acceptance of LISC Legal Cost ProtectionTM as providing adequate security for a defendant.Read more
The controversy around consumer law giant Slater & Gordon shouldn’t be used as a pretext to shut down debate in Canada around adopting Alternative Business Structures (ABS) for law firms, says BridgePoint Indemnity Company Chairman and CEO John Rossos.
“Let’s take a look at ABS as a potential structure and think about how it can be implemented in a way that addresses the legitimate concerns of the legal profession while advancing sound public policy,” he tells AdvocateDaily.com.Read more
Join us on November 19-20 at the Canadian Institute’s Inaugural Litigation Funding Conference. John Rossos, Principal & Co-Founder of BridgePoint Financial Group, David Knowles, LISC Barbados’s Chief Risk Officer will be speaking about Integrated Litigation Risk Management — the Next Generation of Litigation Finance.
Details and schedules can be found at: http://www.canadianinstitute.com/LitigationFundingRead more
The law firm that represents Cape Breton residents who launched a class-action lawsuit claiming the Sydney tar ponds exposed them to contaminants has concluded the litigation should stop after 11 years of legal wrangling.
The Halifax-based law firm Wagners issued a statement late Tuesday saying the court action, which started in 2004, has grown too complex and costly after several major setbacks.
The plaintiffs were granted certification as a class in May 2012, but the federal and Nova Scotia governments persuaded the Nova Scotia Court of Appeal to decertify the lawsuit in December 2013.Read more