After The Event Insurance - The Definition
By understanding after the event insurance definition, you will know a
lot about the issues regarding claims and be able to deal with legal
disputes quite easily. After the event insurance is designed for the
needs of solicitors, policyholders, insurers and the courts alike and is
also known as a post-event insurance. It includes legal expenses
insurance policy, offering cover for the costs incurred in the pursuit
or defense of litigation. If you are not willing to take out insurance
just because you can afford the level of litigation costs to pursue or
defend a claim, the cover from your policy should normally save you
paying most, if not all of your solicitors' costs and your solicitors
won’t lose any of their fee-earning capacity.
After the event
insurance definition will help you better understand the basics of the
policy, which usually require no long application forms to fill in. All
that is required is a very basic client and accident information. You
can either apply on-line through the website or by giving an electronic
excel list straight from your case management system. If your
application is accepted, you cover will start immediately from the date
you requested the policy. Most insurers would probably offer you a
policy only if you have any chance of winning, but some will always be
prepared to back you, if you are happy to run a case.
The
premiums for the policy are deferred until you get back all your costs
and will also be fully funded until paid. Neither you nor your client or
company is required to take out a loan or give any undertakings,
meaning there is no interest to pay.
If you don’t fully
understand after the event insurance definition or rules, you must ask
for an expert advice before applying for a policy. There are companies
who can offer an efficient, reliable and professional service and can
also assist you with your application process. They can find you the
comprehensive range of insurance that is best suitable for your case as
well as various other issues, which you are not familiar with.
This
insurance policy is taken out after an accident has happened or after
you have decided to make a claim and is equally relevant to private
individuals, destitute or indebted clients, or large blue chip
companies. The cover premiums for most policies are fixed in price at a
level which is recoverable.
With affordable protection
insurance, you will get the finances for litigation to support the
pursuit or defence of claims. This would place you on an equal financial
level as that of your opponent.
Legal costs can have damaging
consequences on you as well as on your business, whether you are a large
or small company or a sole trader. Have you ever thought about what
would you do if you are facing a legal dispute? After the event
insurance definition gives you an idea about your legal rights and also
of what to do, if something happens unexpectedly.