In the News Today - July 31, 2019

July 31, 2019

Litigation Funder Sues Firm It Hired To Investigate Plaintiffs’ Lawyer It Was Also Taking Action Against: Texas-based Duncan Litigation Investments sued a law firm for mishandling an arbitration and an investigation into a plaintiffs’ firm it funded that it originally accused of “actionable misconduct.” The investigative firm was sued for a failure to reach a tolling agreement in arbitration with the plaintiffs’ firm, which allowed the limitations to run out before the funder could recover up to $47.9 million in damages. (Texas Lawyer)

Florida-Backed Insurer Finalizes Rate Increases, Which Show “Significant Reductions” After AOB Law: Florida’s insurance regulator approved new rates for the state’s Citizens Property Insurance Corp., which “show significant reductions” after an assignment of benefits (AOB) law was signed earlier this year. The company originally asked for a 8.5 percent increase on its multi-peril policy, but revised it down to a 2.6 percent increase after the new law was signed. (Insurance Journal)