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- Third-party funding in arbitration: a costs insurance brokers view
Third-party funding in arbitration: a costs insurance broker's view
Steve Jones, a director in the dispute resolution practice in Gallagher's London office, considers the International Council for Commercial Arbitration (ICCA) – Queen Mary Task Force ‘Draft Report on Third-Party Funding in International Arbitration’ from a costs insurance broker’s view, and takes issue with the task force’s broad definition of third-party funding.
Third party funding remains in the spotlight in international arbitration and has come under renewed scrutiny following publication of the draft report of the Task Force established in 2013 jointly by ICCA and Queen Mary University of London.
In an interview with Jenny Rayner, Steve discusses a range of topical issues including the perceived increasing number of ethical tensions that arise as the funding and costs insurance market evolves, the approach the task force's draft report uses to deal with 'before-the-event' (BTE) and 'after-the-event' (ATE) insurance and their broad definition of third-party funding, along with the types of insurance Gallagher offer to parties involved in international arbitration.
This article was first published on Lexis®PSL Arbitration on 03/11/2017