Judgment Day - coverage of the judgment preservation insurance market bubble
In an article published by Carrier Management, Jonathan Stroud, General Counsel for Unified Patents, is quoted over the increase in sales of judgment preservation insurance (JPI). JPI is a type of insurance that covers the possibility that an award granted at the trial court level could be reversed or reduced on appeal. The policy guarantees the policyholder would receive an agreed-upon financial amount should the verdict go in an unfavorable direction.
“The brokers really started a push toward sales. Their timing was good, as eye-popping verdicts were happening. People started to think maybe this is something, maybe we’re getting left out by not buying the insurance. The brokers capitalized on these fears.”
Jonathan Stroud, Unified Patents