Third-party litigation financing raises serious concerns for insurers, agents, and policyholders as outside investors fund lawsuits with the goal of turning a profit – driving up claims costs and prolonging litigation. IIAV members now have access to a toolkit from Big I that can help equip you with all you need to know about legal system abuse, how it impacts claims and customers, and strategies for how you can help counter the trend. Inside the toolkit you will find data highlighting the true financial impact of legal system abuse on both insurance providers and consumers, as well as tips on how to combat this issue. 

RICHMOND – Summer may come with fun and travel, but it also poses a variety of risks. 

The State Corporation Commission’s Bureau of Insurance reminds Virginians to check with their insurance agent or company to ensure they have the coverage they need in the event of an illness, theft or mishap.

“With summer here, it’s important to protect yourself and your home, vehicles, and belongings against potential risks. This is true whether you are on the road, boating, at the pool, or grilling at home with friends,” said Virginia Insurance Commissioner Scott A. White. “Anticipate summer hazards now and minimize their potential financial impact by ensuring your insurance coverage is adequate and up to date.”