24th June 2010
After event insurance is a very special type of insurance policy that
can be purchased after the cause of a legal dispute has arisen and
usually provides cover for the costs incurred in the pursuit or defense
of litigation. This type of cover is ideal for nearly all areas of
litigation and is frequently used in both civil and commercial disputes.
There are a number of things that seem unlikely to happen, until you
come across them, yourself and the costs of the claim could cause a real
damage if appropriate insurance has not been taken out There is always
the downside to running an event of any scale, the risk and the policies
like these can play a great role to legally cover you and help you to
overcome any financial crisis.
• After event insurance policy has many benefits and it is quite easy to
arrange this cover for up to millions of pounds. You may also get the
flexibility to choose from pre-set limits of cover so that you only pay
for what you really require. You can get premium discounts on most of
the insurance premiums that are available these days. Your premium is
likely to increase, depending upon the financial risk involved and the
closer the case gets to trial. This means, it will be broadly
proportionate to the cost exposure and provides the opponent a chance to
settle the case early in order to face a reduced liability for the
• Some insurance policies are usually available on a deferred and
self-insured (or contingent upon success) basis, meaning that the
premium is only payable at the conclusion of the case, and then only if
the case is successful.
• A claim can be made under the policy for the insured legal costs and
the insurer does not ask for a premium, if the case in unsuccessful. In
most cases, you may also be allowed to negotiate cover for the client’s
own solicitors’ fees, or a proportion of such fees.
• There are companies with resources to get your event off the ground
and can really provide you with the right plan and guide you through the
entire application process. Most after event insurance companies offer
secure online facilities, so that you can arrange your cover online as
fast as you possibly can. You must compare the operating costs against
the premiums required, before applying for your insurance, and always
use a number of different providers and choose the one that best suits
your needs and budget.
• You can also opt to insure your own disbursements, including things
like counsel’s fees, as the insurance might not provide cover for the
client’s own disbursements on an interim basis, but only at the
conclusion of the case in the event of an unsuccessful outcome.
While planning an event, you also need to make arrangements, if a mishap
or a catastrophe occurs. With the right after event insurance, you can
manage the financial and legal consequences of almost any problem with