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Member Spotlight:  Michael Klaschka

By Mike Klaschka |

Member Spotlight:  Michael Klaschka

Michael Klaschka is a Managing Principal and head of the Financial Institutions team based in EPIC’s Jersey City office.  He has over 32 years of industry experience and is a highly respected and skilled negotiator in the professional liability marketplace. 

Mike has extensive experience working with financial institution, investment management, litigation finance, real estate, venture capital, private equity and complex risks with strong technical knowledge of D&O, E&O, Cyber, Fidelity, Fiduciary, Media and Employment Practices Liability. 

Mike joined EPIC in August 2016.  Prior to joining EPIC, Mike was the national leader of Integro’s Management Risk Practice where he spent 11 years.  Prior to Integro, Mike spent 10 years at Marsh & McLennan where he held various positions including head of their E&O Center of Excellence Group based in NY as well as the west coast FINPRO placement leader for their financial institution, technology and commercial accounts group based in San Francisco.  Mike earned a Bachelor of Arts Degree from Drew University in 1991, and majored in Economics with a minor in Political Science.

Company Name and Description:  EPIC Insurance Brokers & Consultants

We are a unique and innovative retail risk management and employee benefits insurance brokerage and consulting firm, founded in San Francisco, California in 2007 with offices and leadership across the country.

EPIC Insurance Brokers & Consultants has a depth of industry expertise across key lines of insurance, including risk management, property and casualty, employee benefits, unique specialty program insurance and private client services.

Company Website: https://www.epicbrokers.com/

Year Founded: 2007

Headquarters: San Francisco, CA

Area of Focus: Property & Casualty Insurance with expertise in Directors’ & Officers’, Errors & Omissions, Employment Practices, Fund, and Cyber Liability.

Member Quote: Procuring insurance for litigation finance companies can be a challenge as many insurers view the industry as driving up their costs.  Several even prohibited their underwriters from offering terms.  In addition, litigation finance companies have unique exposures that are not addressed in “off the shelf” products offered by insurers.  At EPIC, we have the knowledge and experience as well as the relationships with key insurers that gives us the ability to negotiate and place coverage tailored to each client.

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Mike Klaschka

Mike Klaschka

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Sen. Tillis Vows Second Round in Litigation‑Finance Tax Battle

By John Freund |

Sen. Thom Tillis (R–N.C.) said he’s not backing down in his push to impose a special tax on litigation‑finance investors, signalling a new legislative attempt after an initial setback.

According to a report in Bloomberg Law, Tillis introduced the Tackling Predatory Litigation Funding Act earlier this year, which would levy a 41 % tax on profits earned by third‑party funders of civil lawsuits (37 % top individual rate plus 3.8 % net investment income tax). While the bill was included in the Senate Republicans’ version of the tax reconciliation package, the tax provision was ultimately removed by the Senate parliamentarian during the June process.

Tillis argues this is about fairness: he says that litigation‑finance investors enjoy more favourable tax treatment than the victims who receive legal awards, a situation he calls “silly.” He acknowledged the industry’s strong push‑back, noting a high level of lobbying from entities such as the International Legal Finance Association and other funders. “You couldn’t throw a rock and not hit a contract lobbyist who hadn’t been engaged to fight this … equitable tax treatment bill,” he said.

Though Tillis is not seeking re‑election and will leave office next year, he remains committed to using his remaining time to keep the tax issue alive. His remarks suggest this debate is far from over and could resurface in future legislation.

Hausfeld Secures Landmark £1.5bn Victory Against Apple

Hausfeld has achieved a major breakthrough in the UK’s collective‑action landscape by securing a trial victory against Apple Inc. in a case seeking up to £1.5 billion in damages. The case, brought on behalf of roughly 36 million iPhone and iPad users, challenged Apple’s App Store fees and policies under the UK collective action regime.

According to the article in The Global Legal Post, the action was filed by Dr Rachael Kent (King’s College London) and backed by litigation funder Vannin Capital. Over a 10‑year span, the tribunal found that Apple abused its dominant position by imposing “exclusionary practices” and charging “excessive and unfair” fees on app purchases and in‑app subscriptions.

The judgement, delivered by the ­Competition Appeal Tribunal (CAT) on 23 October 2025, marks the first collective action under the UK regime to reach a successful trial‐level resolution. The CAT held that Apple’s 30 % fee on these transactions breached UK and EU competition laws and that the restrictions were disproportionate and unnecessary in delivering claimed benefits.

Apple has stated it will appeal the ruling, arguing the decision takes a “flawed view of the thriving and competitive app economy.” Meanwhile, the result is viewed as a significant vindication for collective claimants, with Dr Kent describing it as “a landmark victory … for anyone who has ever felt powerless against a global tech giant.”

ADF Women Eligible for Class Action Against Commonwealth

Thousands of women who served in the Australian Defence Force (ADF) between 12 November 2003 and 25 May 2025 are eligible to join a new class action in the Federal Court of Australia, brought by the law firm JGA Saddler and backed by global litigation funder Omni Bridgeway.

The Nightly reports that according to JGA Saddler lawyer Josh Aylward, the case alleges that the ADF has been afflicted by “sexual violence and discrimination” for decades—despite prior investigations and recommendations. “There is a gendered battlefield within the ADF that female soldiers have been faced with for more than 20 years,” Aylward said.

The claim includes allegations ranging from daily harassment—such as sexist comments and unwanted touching—to physical assaults. One cited case involves a woman pinned against a wall during a night out with colleagues, reporting the incident to military police who declined to prosecute with no explanation offered. The class action marks a bid to hold the Commonwealth to account for systemic issues rather than isolated incidents.

The eligibility window is broad: any woman who served in the ADF during that 2003–2025 period may participate. The class action is expected to become a multi‑million‑dollar claim.