Hosts Brandon Schuh and Nick Hartmann return for another episode of RiskCellar, and the headline story is North Carolina litigation financing. North Carolina has become the first state in the country to pass an outright ban on third-party litigation financing, with Governor Josh Stein signing House Bill 315 into law in June 2026. Find out what the law prohibits, why insurance trade groups are celebrating it, and what it could mean for other states.

Beyond the North Carolina litigation financing news, Brandon and Nick cover a data breach at the National Association of Insurance Commissioners, CFC's move to add affirmative AI coverage across seven product lines, the deadly earthquakes that struck Venezuela and the Caribbean, and how Chubb-led marine war risk facilities are easing capacity strain in the Strait of Hormuz. The episode wraps with a Fourth of July round of Three Truths and a Lie.

This episode blends sharp insurance analysis with the hosts' casual banter, making topics like North Carolina litigation financing approachable for brokers and underwriters. Listeners get a fast-moving tour of the week's biggest insurance and legal stories.

• North Carolina is the first state to enact an outright ban on third-party litigation financing.

• House Bill 315 makes it unlawful to engage in or furnish litigation investment in a North Carolina civil proceeding.

• The law took effect July 1, 2026, applying to lawsuits arising on or after that date.

• The Attorney General can enforce the law with penalties up to $50,000 per violation.

• At least 11 other states already have some restrictions on litigation funding.

• NAIC confirmed a breach exposing 3.1 terabytes of data via an Oracle PeopleSoft vulnerability.

• CFC is embedding affirmative AI coverage across seven core product lines.

• Chubb-led marine facilities offer up to $400 million in Strait of Hormuz shipping capacity.

  
  

00:00 Introduction to Claims Auditing and AI Solutions

01:22 Celebrating Achievements in Brokerage

04:38 Wine Tasting and Personal Updates

05:39 Fourth of July Plans and Celebrations

06:39 Political Commentary on National Events

09:11 Litigation Funding Legislation in North Carolina

11:47 Data Breach at NAIC and Its Implications

15:47 Insurance Industry Responses to AI Risks

19:06 Natural Disasters and Their Impact on Insurance

21:29 Geopolitical Commentary on U.S.-Iran Relations

24:39 Insurance Developments in Maritime Risk

28:07 Trivia and Closing Thoughts

Connect with RiskCellar:

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

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/