Ignite Specialty Risk, a provider of litigation risk insurance, has unveiled its latest offering, Litigation Capital Protection Insurance, marking its official entry into the US market.
The company also announced the appointment of Nicole Silver, a distinguished litigation finance expert and former litigator, as the Lead Underwriter and Head of US Operations.
Designed to offer assurance to litigation funders and law firms, Ignite’s Litigation Capital Protection Insurance provides protection for investments in a portfolio of litigation assets, even if the portfolio’s performance falls below expectations. The insurance product is backed by a panel of AM Best A- (Excellent) rated capacity.
Established in the UK in 2022 by a team with extensive experience in both litigation funding and insurance, Ignite has gained significant success in the London market, offering a comprehensive range of litigation insurance products unmatched by other UK providers.
Now, Ignite is poised to bring its expertise to the US, starting with the introduction of Litigation Capital Protection Insurance.
Byron Sumner, CEO and Co-founder of Ignite, expressed optimism about the growing popularity of Litigation Capital Protection Insurance, emphasising its role in enhancing the efficiency and resilience of capital structures within the litigation asset class.
Sumner highlighted the US team’s proficiency in structuring these policies, developed over several years at the forefront of their design.
Nicole Silver, the newly appointed head of Ignite’s US operations, brings a wealth of experience with a 20-year track record in litigating complex disputes.
Her previous roles at esteemed firms like Winston & Strawn and Greenberg Traurig, coupled with her work at Validity Finance, have equipped her with comprehensive insight into litigation finance and insurance.
Sumner praised Silver’s expertise, describing her as not only a highly skilled attorney but also a seasoned litigator with a thorough understanding of all facets of litigation insurance.
He expressed confidence in Silver’s leadership, highlighting her invaluable contributions to Ignite’s US market entry.
