Key findings:
1. #masstort plaintiff lawyers do not primarily base their litigation and settlement strategy on defendants’ #liabilityinsurance, except in cases of insolvency.
2. Despite #insurance policies assigning control over defense to the #insurer, mass tort defendants typically retain control over their defense, even when they recover under these policies.
3. Mass tort defendants usually use their own funds to settle #claims, seeking indemnification from liability insurers, if available, at a later stage.
4. Many mass tort plaintiff law firms rely on non-recourse litigation funding, reminiscent of early forms of commercial insurance like bottomry and respondentia. An emerging insurance market is reducing the cost of this funding and may eventually replace it.

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