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Litigation Protection

The potential costs involved in resolving a commercial dispute vary greatly depending on whether a claim is successful or unsuccessful. If an action is successful, the costs involved will often be mitigated by a financial award. However, if an action is unsuccessful, the losing party may be ordered to pay the costs of those involved in the action.

Yet the risk and costs of losing a commercial claim needn't prevent an individual or a business from pursuing a claim that has a strong chance of success. There are many insurance products now available that can reduce, or remove, the costs of failing to win a commercial claim.

These products, which come under the broad term of 'After the Event' (ATE) insurance, offer a creative and bespoke method of protecting against the financial risks and liabilities involved in losing litigation.

After the Event Commercial Legal Expenses Insurance

'After the Event' (ATE) insurance provides extra protection against the risks involved in resolving a dispute through the courts. It covers the potential losses and costs incurred if a legal claim is unsuccessful. This means that many common commercial claims, whether they relate to recovering debt, professional negligence, commercial property, insolvency or breach of contract, can be brought without any of the initial costs.

Litigation insurance products such as ATE will often cover an opponent's costs if the claim fails, as well as those of the person pursuing legal action. This kind of insurance is therefore very valuable for any individual or business that wants the peace of mind that they will not be liable for an opponent's costs should their claim fail.

ATE insurance also has the added benefit that the premium is only payable when the case is over and the claim was successful. This is because the premium is expected to be paid from any settlement or damages that are awarded in the insured's favour.

The level of the premium payable on success will often depend on the type of cover sought and the risks involved in bringing a claim. It may be a percentage of the insured amount or of the costs incurred at the end of the case. It is possible to negotiate the terms and premium payable to reflect the particular circumstances of the claim.

Although the fees of an insured person's solicitor are not covered by ATE insurance, it can be possible to offset a solicitor's fees by entering into a no win, no fee or no win, low fee agreement. By doing so, someone who wishes to bring a claim will be safe in the knowledge that they will only have to pay the costs of a commercial claim if they are successful.

Litigation Insurance Experts

Advantage Litigation Services can help you find and apply for the right insurance product in a straightforward and efficient way. We can also help you obtain additional cover should you need it, or apply for cover to be backdated.

Contact our litigation insurance product specialists for a no-obligation assessment of your potential claim and the funding options that are available. Click here to contact us today or call 01252 354434 to see how we can help.

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