The announcement comes as the company expands its portfolio to cater to the specific requirements of the US market.
Nicole Silver, an accomplished litigation finance expert and former litigator, assumes the crucial role of Lead Underwriter and Head of US Operations at Ignite. With her extensive background in the field, Silver is poised to lead Ignite’s initiatives within the dynamic landscape of US litigation.
Ignite’s Litigation Capital Protection Insurance is designed to empower litigation funders and law firms by providing assurance that their investments in a portfolio of litigation assets will remain protected, even in scenarios where the portfolio underperforms. The insurance offering is backed by a panel of AM Best A- (Excellent) rated capacity, ensuring reliability and security for stakeholders.
Established in the UK in 2022, Ignite boasts a founding team with substantial experience in both litigation funding and insurance. Following its successful endeavors in the London market, where it became renowned for offering an extensive range of litigation insurance products, Ignite is now extending its services to the US market.
The introduction of Ignite’s Litigation Capital Protection Insurance in the US underscores the company’s dedication to addressing the evolving needs of the legal and financial sectors. With its expansion into the US market, Ignite aims to provide stakeholders with robust risk management solutions, reaffirming its position as a leading player in the global litigation insurance landscape.
“Litigation Capital Protection Insurance is a relatively new concept to many funders and law firms, but it is quickly gaining popularity for its ability to protect a litigation asset portfolio investment and, as a result, facilitate a more efficient and robust capital structure within the asset class,” said Byron Sumner, Ignite CEO and Co-founder.
“Ignite’s US team has significant experience in the structuring of these policies, having been at the forefront of their design for several years. We are excited to bring this expertise to the US market to help litigation funders and law firms benefit from a meaningful risk-transfer in the context of litigation, and ultimately secure access to justice for claimants with meritorious disputes.”
Silver, head of Ignite’s US operations, brings a 20-year track record litigating complex disputes. She has worked at Winston & Strawn and Greenberg Traurig and has appeared before numerous courts and tribunals including the US Supreme Court, various appellate and district courts, as well as the ICDR, ICC, ICSID, UNCITRAL, and the USTR. Silver’s experience in litigation finance includes work at Validity Finance, where she supervised and advised on litigation matters including performing due diligence and underwriting portfolios of cases. As a funder, she has had exposure to all aspects of litigation insurance, including ATE, judgment protection, and litigation capital protection insurance.
“Not only is Nicole considered to be a highly skilled attorney, she brings along an excellent track record of success litigating complex disputes, and her work as a funder has given her an insider’s view on all aspects of litigation insurance,” said Sumner. “Her extensive expertise within the insurance, investment, and legal communities will be invaluable to Ignite in the US market, and we could not be more delighted to be launching here with Nicole leading the charge.”