We’re excited to kick off a new season of the RiskCeller podcast after a well-deserved break! In this episode, we not only catch up on personal adventures and favorite wines, but we also unveil a shift in our show’s format, moving beyond insurance industry news to tackle a wider range of timely topics and in-depth interviews. This fresh approach is about delivering a perfect mix of hard-hitting news and thoughtful, expert discussions for our listeners, whether you’re an insurance professional or just intrigued by the broader legal landscape.

One of the major issues we explore is third-party litigation funding and its destabilizing effects on the insurance sector. We discuss how litigation financing, where outside investors fund lawsuits for a slice of the settlement, has grown rapidly in the U.S., fueling what’s often called “social inflation.” This trend is creating complications for insurers by inflating the costs of claims and pushing up premiums for everyone, from homeowners to small businesses. Notably, the episode centers on our interview with Minnesota State Senator Judy Seberger, an insurance defense attorney leading efforts for more transparency and consumer protections in litigation funding. Her bill, SF-2929, aims to shine light on industry practices and guard against predatory lending in the legal system.

Throughout the episode, we reflect on the ripple effects that rising litigation costs have on insurance premiums and consumer experience. We compare trends across states, dig into the ethical and economic challenges posed by third-party funding, and debate if more states should follow Minnesota’s lead. Our ongoing mission is to clarify the impact of legal and insurance industry changes and share insights from credible guests. If you’re seeking fresh perspectives and actionable information on insurance, legal news, and consumer protection, you won’t want to miss this season.

Takeaway List:

• The podcast is changing its format to cover broader topics beyond just insurance.

• Litigation financing is destabilizing the insurance sector.

• Howden is making significant moves in the insurance brokerage space.

• Third-party litigation funding is a growing concern in the legal industry.

• Judy Seberger is advocating for transparency in litigation funding.

• The SF-2929 bill aims to protect consumers from predatory practices.

• Insurance premiums are affected by rising litigation costs.

• State legislation on litigation funding is evolving, with few states having robust laws.

• Social inflation is fueled by third-party funding in lawsuits.

• Industry experts like Chubb’s CEO are calling for ethical and systemic reforms.

• The podcast will feature more interviews with industry leaders and policymakers.

• Listeners can expect a mix of breaking news, analysis, and practical advice.

Chapters:

00:00 Welcome Back and Summer Adventures

05:27 Changes in the Podcast Format

06:52 Current Events and Legal News

13:54 Insurance Industry Developments

16:28 Deep Dive into Litigation Funding

26:23 Interview with Judy Seberger

56:05 Wrap-Up and Future Discussions

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Guest: Judy Seberger

LinkedIn: Judy Seberger's LinkedIn Profile

linkedin.com/in/judy-seberger

Judy Seberger, State Senator, Minnesota Senate Official Page: senate.mn/members/member_bio.html?mem_id=1248

Email: [email protected]

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/