In the News Today - August 31, 2015

August 31, 2015

Insurance Journal highlights the call by U.S. Senators Grassley and Cornyn for greater transparency by the litigation finance industry. The story notes that, "the U.S. Chamber of Commerce, for one, has derided this activity as 'a sophisticated scheme for gambling on litigation' that allegedly fuels abusive suits and creates conflicts of interest." (Insurance Journal)

The executive director of the New Mexico Health Care Association takes on the cozy relationship between plaintiffs' attorneys and state attorneys general. She cites ILR Executive Vice President Harold Kim's recent quote in the Las Vegas Review-Journal: “While reasonable people can disagree about the propriety of using outside counsel … you don’t need to be an attorney to wonder whether the money donated to [former Attorney General Catherine Cortez] Masto’s 2010 re-election campaign by six partners of Cohen Milstein wasn’t part of some kind of pay-to-play arrangement.” (Santa Fe New Mexican)

Government regulators' "use of so-called outside monitors to police financial institutions" has "exploded" in recent years — and the practice is garnering increased scrutiny. (Wall Street Journal)