As with any litigation proceedings the potential consequences for your organisation could be huge. Defence, claims and counterclaims can be damaging, making after the event insurance a vital avenue for many businesses seeking to hedge cost and credibility.

ATE Insurance can significantly reduce the risk of your litigation fees and provide your organisation with some much needed confidence to proceed in your litigation process. This should cover both your own and your opponent’s potential legal costs (otherwise known as adverse costs).

After the event insurance cover should be scalable to stakes meaning for each case you could be talking anywhere in the region of £100,000 to above £20 million. Depending on your situation this should provide you with some manoeuvrability.

You should be wary that ATE insurance can require you to finance the litigation until its conclusion, whether by private means, establishing a funding agreement with a 3rd party or having reached a prior deferral of payment. Possibly the most alluring part of after the event insurance is that no fee is payable before proceedings, and if the case does not result in success for the client, then no fee is payable whatsoever.

Regardless of a company’s financial capability or size, ATE can be used to effectively level the playing field making for fairer legal proceedings. So regardless of the type of litigation in progress, ATE seems a great way to reduce the risk of legal outcome.

When using ATE, you should be wary of the market and the competitiveness that exists therein. Many independent brokers will provide market evidence that their services are the most cost-effective and manageable for your company by themselves presenting you with market research. It might be a good idea to follow through on this research to make sure their claims are trustworthy.

 
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