New Insurer for Lawyers Sets Sights on Litigious U.S.

By Erik Larson, Bloomberg News

When David Brill lost a trial for a client who fell off his neighbor’s ladder, it was a rare failure for his three-member Florida law firm. It also cost him $30,000 in expenses since he’d taken the case on contingency, meaning the client paid nothing and he took all the risk.

A decade later, the loss was still fresh on Brill’s mind when he learned about Level Insurance, which offered something he’d never heard of: full reimbursement for out-of-pocket expenses if lawyers take a case on contingency and lose at trial.

Brill signed up in ...