Thomas Herde, Senior Vice President
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The specter of American-style class action litigation looms large over Continental Europe. Many carriers worry that they could face larger claims—and increased legal fees—if this practice is adopted. Litigation financing is particularly daunting, as it provides a way to funnel capital to plaintiffs to support long, intense legal campaigns.
Thomas Herde, Senior Vice President
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A lot of ink has already been spilt over Europe’s changing claims landscape and the possible consequences for insurers and reinsurers. Recent developments not only suggest that the doors are open for European investors to participate in (and have the benefit of) US securities class actions, but also that the very beast itself eventually will find its way into the European legal system.
Are we at the beginning of a litigation explosion where ambulance-chasers create and fight over a European claims market? Is it the insurance industry which ultimately will finance “affordable justice for all”?
