After The Event Insurance - The Definition

14th July 2010

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.