After The Event Insurance
After
the Event (ATE) Insurance is a type of legal expenses
insurance policy that provides cover for the costs incurred in
the pursuit or defence of litigation. The policy is purchased
after the cause of a legal dispute has arisen which is why it
is named After the Event Insurance. It is also referred to as
ATE Insurance, Conditional Fee Insurance, CFA insurance,
Post-Event Insurance, AEI or LEI.
The
name is also used to distinguish this type of insurance from
another type of legal expenses policy that is purchased to cover
the cost pursuing of defending litigation before the
cause of the dispute has occurred. This type of policy is called
Before The Event Insurance (BTE). This is also known as
Litigation Insurance or Legal Expenses Insurance (LEI).
After
the Event insurance can be purchased for nearly all areas of
litigation with the exception of matrimonial or criminal law.
Unique
features of ATE Insurance
- The premium
charged by After the Event Insurance Companies is, in
principle, recoverable by the successful litigant as part of
costs from the losing party.
- Premiums are
often available on a deferred and self-insured basis so that
the premium is only payable by the policyholder at the
conclusion of the case, and then only if the case is
successful.
- Most
policies now insure the premium if the case is lost. This
means that if the premium payment is deferred, the premium
is simply absorbed by the insurer. If the premium is paid
when the policy is taken out, the cost of the premium is
reimbursed by the insurer. In both examples, the insurer
also pays for the client’s insured legal costs
liabilities.
- The
policyholder may not have to pay the premium or may be
reimbursed for payment of the premium if the case is no t
successful. This is known as a 'self insured' or
'conditional upon success' premium.
A
quotation for After The Event insurance is applied for by the
instructed solicitor or legal
representative rather than the policyholder themselves. The
solicitor/legal representative is the link between the insurer
and the policyholder and will liaise with the insurer as the
litigation progresses.
It
is very important that independent expert help is sought
when searching for appropriate After the Event insurance.
The Judge
has been the leading independent ATE Insurance broker in
this unique area of the insurance industry since 2000.
Do you have a question about After The Event insurance? Contact The Judge HERE and we will be happy to answer any questions you may have.
If your firm or department would like us to provide comprehensive advice and After The Event training, Click HERE.
Alternatively
if you have a particular case you would like to discuss please
contact our New Case
Enquiry Line: 01903 22 78 65
