14th July 2010
After the event legal expenses insurance is a primary coverage for your
business or organisation, in circumstances where both you and your
client are named in a claim and your client is found to be solely at
fault. In order for a claim to make financial sense, it’s quite
important that the proposed defendant must be either insured or in a
financially stable position and be able to satisfy any agreement for
settlement or any damages awarded in a court case. There is always a
chance that the claimant will lose, if the case goes to the court, and
it is under these circumstances that the claimant has to protect himself
by taking out an appropriate insurance cover.
As the importance
of after the event legal expenses insurance is on the increase, many
business owners are taking advantage of simple and easy to use online
application process so that no time is wasted in visiting and discussing
the insurance details.
You can buy your insurance either on a
BTE basis, by adding cover to a household, motor or general commercial
policy or on ATE basis, covering the other side’s costs for an event
that has already taken place. This includes a personal injury, contract
dispute or insolvency litigation.
In most cases, you pay for your
own legal fees, VAT and payments made by your solicitor to others
(like, medical report fees). If you are successful in your case, the
court will generally order that the person, who is responsible for your
injury, or his or her insurer, will have to pay your legal fees. If you
already have paid any fees, it can be rebated upon receipt of the fees
from your opponent.
Your trade union will be able to meet your
legal costs in the event of you bringing a claim. You can also get free
legal advice from them, if you have paid contributions to the union.
They often have a panel of approved solicitors, and they will select a
solicitor on your behalf to conduct your case.
After the event
legal expenses insurance also provides access to advice and cover for
the legal costs of pursuing or defending certain classes of legal action
and is available to both individuals and companies. There is no upfront
premium payable by the client and the premium is payable at the
conclusion of the case, which can be recovered.
You can also add
the family members in the insurance or get it changed to a group
insurance scheme for the lives of the entire group. There are many
reputable and well established insurance providers in the market these
days, who will assess everything in detail at no cost to you, will give
you the quotes and recommend the best product for your specific needs.
the event legal expenses insurance is meant to give you easy as well as
affordable solution to meet your needs and protect your business or