Financial Times Comment 6/6/20

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    Earl Nemser

    “Fewer Lawyers” means Disintermediate the Legal Process like Amazon disintermediated retail. The real parties in interest–Insurers and Policyholders–should eliminate the Middlemen (Lawyers and Litigation Funders) whose mission is to “exploit crisis” by aggregating cases and earning fees on many with no incremental effort. Some Middlemen are burdened with conflicts of interest that drive them to collect 30-40% fees instead of providing Policyholders with zero cost Tolling Agreements and correct advice to await the outcome of test cases and keep 100% of their recovery. These Policyholders will ultimately seek to rescind retainer agreements based on incorrect advice.

    The real parties in interest should use the savings of legal and funding costs as “notional dollars” to fund a Disintermediated Solution that avoids the burdens and costs of the legal process. This kind of litigation reform should be a new model to lower premiums and increase recoveries. I set this out in detail in a Case Study under Commentary at

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