Class action settlement fund and method of funding a class action settlement using a mixture of cash and insurance

摘要

A class action settlement is funded by obtaining an insurance contract that is adapted to pay a benefit depending on the claims for cash payments made by class members. In one embodiment of the invention, an amount of cash sufficient to satisfy an estimated fraction of the total possible claims is deposited into a settlement fund, and a policy of insurance or similar contract is obtained that is adapted to pay a benefit sufficient to pay claims made in excess of the cash deposited into the fund.