Most after the event litigation insurance policies are specifically designed for the client’s specific needs, providing them with different levels of indemnity for higher risk as well as higher value claims. The policy is usually arranged after the legal dispute has arisen, so every policy is based on the attributes of the individual case. It is ideal for solicitors, thus helping them with the opportunity to expand their litigation caseload. It is also suitable for corporate buyers and business travellers. While planning an event, you also need to make plans, if a catastrophe occurs and whatever your requirements may be, this policy that will work for you.
The bespoke after the event litigation insurance policy can be uniquely tailored to the exact requirements of the client’s case, with wording specific to their case. If you are dealing with larger or more complex cases, then this is the policy for you. It includes a range of disputes including civil litigation, professional and clinical negligence, and insolvency or property disputes.
The premium of the policy is often fully deferred and payable on conclusion of a successful case. It will be recoverable from the unsuccessful party along with your own costs. If the case is unsuccessful the client would not have to pay the premium whether he is winning or losing. You will be allowed to choose from pre-set limits of cover so that you only pay for what you really require and also get premium discounts on your package.
After the event litigation insurance policy does not provide the claimant with sufficient funds to take the case forward in the first place, but it does minimise the risks of litigation if the case is lost and the claimant has to pay the costs of the proceedings. It however does offer a cheaper way by which both corporate and private litigants can protect themselves in the event of an adverse outcome.
With the help of reputable insurance providers, you can get the best cover at the earliest stage possible and be fully protected until the conclusion of the case. With their simple, straightforward, partnership approach, they will guide you through your case and help you to adhere to the policy conditions and other requirements at all times. They offer you the tools to manage all the risks either in the pursuit or defence of litigation.
Your insurers will also carry out an independent review of the case and within a reasonable period of time let you know whether the case is eligible for the cover and also give you with an indication of terms. By utilising current technology they not only offer you cost effective solutions but also get things done as quickly and efficiently as possible. They would help you to speak to specialist underwriters and claims handlers, in order to keep processes moving smoothly.
After the event litigation insurance policy will open up many opportunities for solicitors and their clients, enabling them to run cases for existing clients that would have normally been run privately.