After the Event Litigation Insurance Can Make Any Claim Straightforward

After the event litigation insurance policy is meant to protect a solicitor's client after that person or entity becomes aware of the need to litigate to protect their interests. The client can be either the claimant or a defendant in a legal action. This type of insurance is relatively new to many people and has not been particularly popular within the commercial litigation sector. It is all due to its quite high premiums and tough application processes, which can make the product really unattractive to claimants and their representatives. However, due to the increasing demand of this insurance, you can now get more innovative and variety of these products to assist you in difficult times.

Whatever the nature of your business and your instructions, there are many insurance companies who can tailor a fee charging structure according to your specific requirements.

? After the event litigation insurance policy is to offer cover to the client or insured against what could possibly be the substantial costs that the client or insured will be liable for should the legal action prove to be unsuccessful.

? Most companies are keen on offering not only a choice of commercial litigation insurance policies but also, by ensuring that the insurance is reflective of the needs of solicitors and also that of their clients in this area.

? Some of the fast track after the event litigation insurance policies are quite simple to understand, with fast application process for straight forward, lower value commercial litigation claims. You can also take advantage of bespoke policies, which are specifically designed to the client's individual case, providing varying levels of indemnity for higher risk as well as higher value claims.

? Depending upon the volume of work, some providers can offer very competitive rates for secondments. Their application procedure, systems and processes are quite cost-efficient as well as user friendly.

? In some cases, there is a fixed fees on a work product based on the scope, complexity and estimated time required to undertake a piece of work. The premium is usually deferred until the conclusion of the case and is often recoverable from the other side if you are successful in the case. It may always not be the case, but you could also get discount rates, for example, if you are unsuccessful in your dispute, the insurance company will bear the cost differential between their normal fees and the discounted fees. However, any deficit must be borne by the client, himself. In event of unsuccessful dispute, the client will have to pay the fees and expenses of the other side.

? This type of insurance usually covers many things like professional negligence, property disputes, defamation, contractual disputes, employment disputes and many more.

After the event litigation insurance policy is often taken out after a dispute has arisen. The policy will offer coverage for your own expenses such as counsel or expert's fees as well as against any order to pay other party's costs and expenses in the event that you are unsuccessful.

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