Wed.Jul 24, 2024

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The 25 Largest Legal Tech Investments of All Time

Law Sites

In reporting yesterday on the record-setting $900 million investment in law practice management company Clio, I included a list of the 10 largest previous investments in legal tech. It did not take long for me to learn that the list was incomplete. So I set about trying to come up with a more accurate list.

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Setting Expectations With Multigenerational Teams and Clients

Attorney at Work

By clearly communicating expectations, you reduce ambiguity, enhance accountability, promote engagement and improve collaboration The post Setting Expectations With Multigenerational Teams and Clients appeared first on Articles, Tips and Tech for Law Firms and Lawyers.

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How It Works: A Demo of Henchman, Generative AI-Driven Contract Drafting and Negotiation within Word

Law Sites

You have been hearing about it in the news, now see how it works. Last month, Henchman, a generative AI-driven platform that promises to deliver “the fastest contract drafting experience ever made,” announced that it was to be acquired by LexisNexis Legal & Professional. Just this week, LexisNexis said it had closed the deal.

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Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix

Insurance Journal

The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates.

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Visibility Into the Strategy & Supporting Documents of Major US Law Firms

Law Firm Intelligence by Trellis aggregates state trial court data across the Trellis platform enabling users to: look up a particular metric related to a specific law firm (such as, how many cases a law firm had or has against another law firm), and see the actual dockets and documents supporting the metric. Trellis data is maximized in a revolutionary and unique way to provide users an exclusive look into a law firm litigating in state trial courts.

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What Is the Standard Contingency Fee for an Attorney?

Practice Panther

When setting a contingency fee, you’ll want to consider several factors to ensure it’s fair to both you and your client. Typically, contingency fees range from 25% to 40% of the total recovery amount. The standard often hovers around 33.3% , particularly for personal injury cases. However, the specifics can vary depending on the complexity of the case, the risk involved, and the jurisdiction.

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Hurricanes Get the Headlines But Inland Flooding Tops the Disaster List

Insurance Journal

Floyd County keeps flooding and the federal government keeps coming to the rescue. In July 2022, at least 40 people died and 300 homes were damaged when the eastern Kentucky county flooded.

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More Trending

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Global Q2 Commercial Insurance Rates Remain Flat, Ending 7 Years of Price Hikes: Marsh

Insurance Journal

Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index.

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CAFC Committee Recommends Another Year of Sanctions Against Newman

IP Watchdog

The Special Committee of the U.S. Court of Appeals for the Federal Circuit (CAFC) that has been investigating Judge Pauline Newman’s alleged misconduct for the past year today renewed its recommendation to sanction Newman in the form of a suspension from hearing cases at the panel or en banc level for an additional year. The Committee consists of CAFC Chief Judge Moore and Judges Prost and Taranto.

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Deadly Typhoon Gaemi Floods Philippines, Shuts Taiwan

Insurance Journal

Typhoon Gaemi claimed the lives of at least four people and forced the evacuation of hundreds of thousands in the Philippines, where parts of Manila are flooded even as the storm moves towards Taiwan.

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FTC Launches Probe into Surveillance Pricing Practices Targeting Eight Major Firms

Complex Discovery

Editor’s Note: In an era where data is the new oil, the Federal Trade Commission (FTC) has taken a significant step to address the potentially exploitative practice known as “surveillance pricing.” By investigating how eight major firms utilize consumer data to set individualized prices, the FTC aims to shed light on the intricate and often opaque mechanisms behind dynamic pricing strategies.

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Stay On Top of Newly Filed State & Federal Litigation: Curated Just for You!

With Daily Filings Report by Trellis you will receive an email and csv file daily with all new cases filed in the jurisdictions you're tracking. Each new case will include all case metadata like judge, parties, counsel, practice area, and even direct links to the full docket and complaint. Trellis Daily Filings Reports provide direct access to newly filed state and federal litigation curated just for you.

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AGs in 14 States Want FHFA to Drop Plan to End Title Insurance Requirements

Insurance Journal

Attorneys general from 14 states, most of them in the South, are urging the Federal Housing Finance Agency to back off a pilot program that would remove age-old title insurance requirements from some home loans sold to Fannie Mae.

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CVS settles lawsuit alleging it used AI ‘lie detector’ in interviews

Legal Dive

The settlement is the latest in an ongoing saga of legal scrutiny for AI-based tools in the hiring process.

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Canadian Wildfires Threaten Oil Output, Prompt Evacuations

Insurance Journal

Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season.

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COST BITES 172: CLAIMANT WHOSE CASE WAS STRUCK OUT HAD TO PAY THE DEFENDANT’S COSTS

Civil Litigation Brief

In Khokan v Nirjhor (Re Costs) [2024] EWHC 1873 (KB) Mrs Justice Hill rejected an argument that a claimant, whose case had been struck out due to non compliance with a peremptory order, should then not be liable to pay.

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Typhoon Gaemi Nears China After Pounding Taiwan, Philippines

Insurance Journal

Typhoon Gaemi took aim at China after tearing across the Philippines and Taiwan, where it knocked out power to hundreds of thousands of homes, flooded streets and left at least 24 people dead.

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COST BITES 173: VARYING A COSTS BUDGET “AFTER THE EVENT”: IF THE APPLICATION WAS NOT “PROMPT” THE BUDGET WILL NOT BE VARIED

Civil Litigation Brief

We are looking again at the decision in Khokan v Nirjhor (Re Costs) [2024] EWHC 1873 (KB), this time on the issue of costs budgeting. The judge considered the defendant’s budget in unusual circumstances. The claimant’s case had been struck.

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Secret Ratings Show US Regulator’s Concern on Banks’ Handling of Risks

Insurance Journal

A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter.

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How Brands Can Compete in the Games Without Being Official Sponsors

IP Watchdog

The Summer Olympics starts in just a few days, and with it comes a flurry of cease-and-desist letters from the U.S. Olympic Committee (USOC). The Olympics benefits from extra special trademark protection here in the United States. Unlike in other countries, the federal government does not fund Team USA, so our athletes mostly rely on sponsorship dollars to compete.

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Louisiana Businessman to Pay $1.3M Fine for Neglecting Elderly Residents During Ida

Insurance Journal

A Louisiana businessman who sent more than 800 elderly residents from his seven nursing homes to ride out Hurricane Ida in a crowded, ill-equipped warehouse pleaded no contest to 15 criminal counts Monday and was sentenced to three years of …

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Pennsylvania Judge Denies Preliminary Injunction on FTC’s Non-Compete Rule, Setting Up Potential Circuit Split

IP Watchdog

On July 23, U.S. District Judge Kelley B. Hodge of the Eastern District of Pennsylvania published a memorandum denying a preliminary injunction requested by ATS Tree Services, which sought to prevent enforcement of the Federal Trade Commission’s (FTC) recent rule banning non-compete clauses from U.S. employment contracts. The ruling comes a few weeks after injunctive relief was granted to another plaintiff by the Northern District of Texas, setting up a potential split among regional circuit cou

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People Moves: Encova Insurance Names Shaver SVP, Small Business, and Lowe VP, Package Lines Underwriting

Insurance Journal

Encova Insurance, headquartered in Columbus, Ohio, named Michelle Shaver as senior vice president, small business, commercial lines, and Carrie Lowe as vice president, package lines underwriting. Shaver most recently was a small business leader for Chubb Insurance.

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RECENT CASES IN FATAL ACCIDENT LITIGATION – WHAT CAN WE LEARN FROM THEM? WEBINAR 30th JULY 2024

Civil Litigation Brief

This webinar looks at recent cases in relation to liability, quantum and damages involving fatal accident victims. It enables us to spend enough time looking at each case in detail, in particular the evidence that was adduced and the conclusions.

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BHP Must Stop Funding Legal Action to Halt Mariana Dam Claim, London Court Rules

Insurance Journal

BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion-pound claim over one of Brazil’s worst environmental disasters, London’s High Court ruled on Tuesday.

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How big firms are trying to keep lawyers from burning out

Legal Dive

Resource management efforts seek to match lawyers’ skills with legal matters and divide work more equitably, while treating career development as a crucial DEI element.

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California Homeowners Sue FAIR Plan Over Smoke Damage Coverage

Insurance Journal

A class action lawsuit is being brought on behalf of more than 350,000 policyholders against the California FAIR Plan over smoke damage coverage. Dylan Schaffer, an attorney representing the plaintiffs, told SiliconValley.

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Ferrari to Extend Cryptocurrency Payments to Europe: Reuters

Securities Docket

Ferrari (RACE) will extend its provision for cryptocurrency payments to Europe by the end of July, Reuters reported on Wednesday. The Maranello, Italy-based luxury sports car manufacturer began accepting crypto in the U.S. last October, in partnership with BitPay. Bitcoin, ether and USD coin were the tokens accepted. Ferrari is now extending the program to Europe “to support dealers in better addressing the evolving needs of its clients,” Reuters said, citing a company statement.

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NFP Acquires Louisiana’s Southern Insurance Agency

Insurance Journal

NFP, an Aon company and property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, announced the acquisition of Southern Insurance Agency LLC (SIA), a commercial property and casualty broker located in New Orleans.

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Judge deals major blow to SEC’s cybersecurity enforcement stance | CFO Dive

Securities Docket

In his court ruling, Engelmayer sided with SolarWinds on the Section 13(b)(2)(B) issue, holding that cybersecurity controls are outside the scope of the provision. “The ruling has significant implications beyond cybersecurity, because the SEC has increasingly charged companies in recent years under this statute based on alleged deficiencies in legal, compliance or risk-management controls unrelated to corporate accounting,” Nicole Friedlander, a partner at Sullivan & Cromwell’s Criminal Defe

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Japanese Population Falls at Fastest Pace in Demographic Crisis

Insurance Journal

The number of Japanese citizens fell at the fastest clip last year since data collection began in the 1960s, adding pressure on the nation’s social security system and shrinking labor market.

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Am Law 50 Law Firms See Uptick in Partner Hiring, With Focus on Funds and White-Collar Practices | The American Lawyer

Securities Docket

Lateral partner hires among Am Law 50 and Magic Circle firms in four major markets are up 9% through the first half of the year, recruiting firm Macrae found. Moves in New York and London, in particular, surged. Additionally, the number of partner moves in investment management, funds and white-collar defense practices in the four markets has more than doubled from the same time as last year, Macrae said, adding that finance partner lateral moves also increased significantly.

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Jewelers Mutual Acquiring Union Life & Casualty Insurance Agency in Arizona

Insurance Journal

Jewelers Mutual Group acquired Union Life & Casualty Insurance Agency in Phoenix, Arizona. JM Insurance Agency Partners Inc., a Jewelers Mutual Group company, will join with UL&C.

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US SEC does not seek 5th Circuit review of private funds decision, throwing other rules into doubt | Reuters

Securities Docket

The U.S. Securities and Exchange Commission (SEC) has decided not to ask a U.S. appeals court to review a June ruling that said the agency did not have the power to oversee investment advisers, according to a source familiar with the matter and court filings. The SEC had until the end of Monday to appeal the decision by the New Orleans-based Fifth U.S.

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Florida-based Brown & Brown Posts Strong Profit for Q2

Insurance Journal

DAYTONA BEACH, Fla. (AP) — Florida-based Brown & Brown Inc. (BRO), one of the largest U.S. insurance brokerages, this week reported second-quarter net income of $257 million, up from $190 million for the second quarter of last year.

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Sean Franzblau Joins Venable’s Investigations and White Collar Defense Practice in Chicago | About | Venable LLP

Securities Docket

Venable LLP is pleased to announce that Sean Franzblau has joined the firm’s Chicago office as a partner in the Investigations and White Collar Defense Practice Group. Mr. Franzblau, a former supervisory attorney in the U.S. Attorney’s Office for the Northern District of Illinois, is a highly skilled trial attorney and investigator who represents clients in government enforcement defense, internal investigations, and other complex litigation matters.

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The Connect Group Launches London-Based Specialty Reinsurer

Insurance Journal

The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd.

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