Oxford Risk Management Group, a popular insurer for litigation funders, was accused this week of deceiving clients to inflate its credit rating.
Financial services company Dorset Peak Solutions filed a lawsuit against Oxford in Delaware Chancery Court Thursday, alleging the insurer illegally offloaded policies to a less secure platform to cure a warning from credit-rating agency AM Best. Oxford merged its liabilities with undercapitalized entities, used an offshore insurer as backing against Dorset Peak’s wishes, and terminated reinsurance policies for outside investors, without Dorset Peak’s knowledge, according to the company.
“If the scheme is allowed to proceed, the policies would …
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