New research released today by ILR’s Justice Not Profit campaign shows the growth of third party litigation finance (TPLF) in the UK is concurrent with increasing public concern about the industry.
A new report, Third Party Litigation Funding in the United Kingdom: A Market Analysis, found that the TPLF industry in the UK has ballooned by more than 700% in five years.
At the same time, according to results of a survey of 1,261 citizens in England and Wales, the public is increasingly concerned by the Americanization and commercialization of the civil justice system, and by the rise of a “compensation culture.” The results of that survey, conducted by independent firm BritainThinks, include:
- 84% of respondents called for independent regulation of the TPLF industry.
- 83% believe the compensation culture is growing because individuals are not taking responsibility for their own actions.
- 59% believe that third party litigation funders exist to make a profit, not to deliver justice.
You can learn more about that poll here.