How Do I Leverage My Level Insurance Policy?

September 23, 2021

September 23, 2021

How Do I Leverage My Level Insurance Policy?

You’ve purchased a Litigation Cost Protection (“LCP”) Policy from LevelEsq!  Welcome to the LevelEsq (r)evolution. Did you know that, in addition to protecting your downside economic risk, LCP can help you increase the profits you earn on a case?  

Here’s how:  

LCP is a shield AND a sword  

When the stakes are high, the defense knows that your cost exposure may influence your decision making. They know that your personal funds are on the line.  

Are you focused on obtaining the best result for your client?  

Of course.  

But the reality is, you have hard dollars in the case, and as it gets closer to a zero-sum game, the risk becomes more palpable. As trial looms, the real spending begins.

LCP removes this dynamic from your decision making as well as that of the defense. Put your LCP policy front and center!  

At mediation, for example, LCP bolsters your settlement demand... When you’re armed with an LCP policy, the defense can no longer attempt to ‘call your bluff’ or try to take advantage of any perceived economic concerns.  

They’ll be forced to reckon [finally] with a level playing field and a different class of lawyer.

LCP can collateralize financing and improve your terms

Most banks and lenders are not keen on lending to plaintiff’s lawyers. They don’t understand the business model and have trouble placing value on their collateral (primarily unrealized contingency fees). With LCP, however, lenders understand, and can quantify, the face value of an insurance policy, which enhances credit risk and often leads to more available funds and better terms.

In response to this development, LevelEsq introduced a Loss Payee feature, which allows our clients to name a financial institution as the loss payee under their LCP policy. So, if there is a loss, the lender can feel comfortable that the LCP proceeds will go directly to them.  

Many LevelEsq customers have reported this has enhanced their existing lending relationships and even facilitated new ones.

LCP + cost financing = the enlightened way to manage your firm’s economics  

LevelEsq recognizes the transformational power of law firm risk management and finance, and recently released its very own Lawsuit Cost Finance (“LCF”) product, which is the best-case cost financing option in the market. For the first time, plaintiff’s lawyers receive financing for their case costs and receive LCP insurance as part of the same package. When you use LCF, if your case goes to trial and loses, the insurance side kicks in and pays back your principal. Nobody else can offer this!

Conclusion  

LCP and LCF, whether used independently or together, are innovative tools that allow innovative attorneys to unlock more profit from their businesses.  

Please visit www.LevelEsq.com to learn how you can transform your business in minutes.

Larry Bassuk
Co-Founder and President of LevelEsq

How can we help your firm?

Lawsuit Cost Financing

Quick and seamless access to capital to fund your case expenses.

Litigation Cost Protection

Protect the downside with insurance coverage for litigation costs.