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Since medieval times, jurists have condemned “champerty,” the practice of giving money to potential litigants to file and maintain lawsuits in return for a share of the proceeds. But in recent years, opposition to champerty has weakened, opening the door to third-party litigation funding, a burgeoning industry that threatens to increase the volume of litigation and drive up litigation-defense and claim costs. P&C insurers should take careful note of this development.

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