It was a stressor only all too common in the life of a trial lawyer.
The more of his own money attorney Justin Leto invested in a contingency case, the more profound the risk to his business.
It seemed like such a basic, fundamental problem that was being shared by so many other litigators.
Why had no one yet proposed a solution?
Enter Leto’s law firm partner and fellow attorney Larry Bassuk, who asked the key question: Most of us insure ourselves against the unforeseen cost of medical treatment and car wrecks and floods and hurricanes every day. Why shouldn’t the case costs incurred by a law firm be similarly covered?
Despite a large and growing need, the pair could not find any such product in the marketplace.
So LevelEsq founders Leto and Bassuk took the reins and developed Litigation Cost Protection (LCP), the first (and only)insurance policy that reimburses case costs in the event of a loss at trial.
Freed from the fear of those losses, attorneys can now not only focus more fully on pursuing justice for their clients, but also increasing case volume and profitability – i.e. running their law firm more like a business.
Take, for example, a medical malpractice case. Your client (P)has suffered a loss and is seeking compensation from a hospital (D) – which, of course, is insured and has abundant time and resources. You take P’s case on a contingency agreement; P will pay you nothing unless and until D pays P. P’s costs mount rapidly as you pay filing fees, serve D, subpoena witnesses, hire experts and investigators, take depositions, and sift through loads of e-discovery. Years pass before your case goes to trial.
If you win, great: Your client gets justice (and hopefully fair compensation) and you are made whole on the personal outlays.
If you lose, however, the time and money spent building the case is gone. You and your client are left with little save for the substantial debt you accumulated in the process.
Litigation Cost Protection flips this paradigm on its head. Armed with the peace of mind that comes from knowing out-of-pocket costs won’t sink you if you lose at trial, you can focus on fighting for your client without fear and, more importantly, without compromise.
In a system that has been historically weighted in favor of the defense, the playing field is, at last, level.
So how, precisely, does Litigation Cost Protection work?
Key features include:
And the product certainly has resonated: Since 2016, LCP policies have insured over $100 million in plaintiffs’ litigation costs.
So, if you find yourself pondering the same financing quandary Leto once did, know that those concerns no longer need to weigh heavily on your psyche and case choices. A solution now exists and is available in a few minutes with no hassle. Join the (r)evolution today.