After The Event Insurance Providers - They Are Here To Help

14th July 2010

After the event insurance providers can help their customers manage

their potential cost liabilities where the case is being run on a

conditional fee agreement. They offer clients bespoke insurance

packages, providing cover for the costs incurred in the pursuit or

defence of litigation and help minimize the uncertainties and financial

risk.

The policies can be purchased after a legal dispute has

arisen and have been around for a while, helping tens of thousands of

litigants to offset a considerable portion of their litigation costs

risk. In this policy the insured has a nominal premium to pay upfront

and nothing after that in the event, if the case is unsuccessful.  He or

she will only liable to pay the full premium in the event that the case

has been successful.

After the event insurance providers can

help manage disputes and assess the premiums individually for each case

depending on the financial exposure faced by the insurers and their view

of the prospects of success.

These professionals can give the

clients greater control of the litigation process, by providing them

with the scheme that enhances their offering and protect claimants

against the risk of adverse costs and their own disbursements. The

losing litigants will have to pay their opponents legal costs, which can

have a deterrent effect on claims. The insurance premium only becomes

payable in the case, where claimants win, and can be recovered from

defendants.

After the event insurance providers can offer the

legal protection products to brokers, affinity groups and law firms.

They provide perfect solution for litigation cases across many different

fields including partnership, warranty and shareholder disputes,

property and also general commercial litigation.

In some case

you have to pay lower premiums if the case is settled early and premium

recoverability won’t be a problem, either. There are normally staged

discounts in the premium for most insurance products. You must never

underinsure your event as this could have the effect of reducing the

amount paid in a claim in proportion to the extent of underinsurance.

After

the event insurance policies are completely flexible so that the

insurance can be tailored to the requirements of each client and that of

each event. They can be taken out after an event has occurred and

covers all legal costs of settling the compensation claim including

going to court and also the other side’s legal bill if your case is

lost. The policies are specifically designed to help insurers pursue

their subrogation rights in a cost-free, risk-free way as well as

support standard personal injury claims on a delegated-authority scheme

basis.

Any potential legal costs can be so daunting at times that

they may prevent a financially stressed party from pursuing or

defending his legal rights. After the event insurance providers can help

you get the cover at very short notice and for various areas of the

events market, also offering extensions which are appropriate to that

type of event.