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Third-Party Litigation Funding (TPLF)

One of the most rampant and destructive tools used in litigation currently is Third-Party Litigation Funding, or TPLF. This is the practice of entities that are not a direct party to a lawsuit injecting money into the process in support of the plaintiff, hoping that a large jury verdict will be rendered and the entity recognizes a significant return on their investment. Here is a link to a video created by an MAIA member that explains how the process works and how it affects litigation.

Agent participation in achieving substantive tort reform is absolutely necessary. In the end, we don’t cast the votes to pass legislation. Only elected legislators do. As such, it’s important that legislators know that their constituents want substantive tort reform to become law as a way to keep insurance both available and affordable in Missouri. So, agents need to be involved in the legislative process by contacting their elected senator and representative and explaining why tort reform is needed, and urging them to vote in favor of such. Even more effective, regularly attend MAIA’s Day at the Capitol and speak with your respective legislators in person. This year’s event takes place March 5, and more information can be found to the right quick links. The event is free to MAIA members and is an opportune time to visit with legislators. [more]
Okay, so now that you want to contact your legislators, who are they anyway? Great question! Enter your address at the link to your right in quick links to find out who your Missouri state senator and representative are. Then reach out to their offices. [more]