After the Event Insurance

Our insurers are committed to providing first rate coverage and can tailor this to best fit your requirements and thus mitigate the uncertainties and costs of pursuing legal action. The insurers we work with have an in-depth understanding of the risks and challenges you face and offer preferential terms to assist you. For example, the cost of insurance can be deferred and only paid upon successful conclusion once a recovery is made.   Also, insurers will take a commercial view in circumstances where an unexpectedly limited recovery is achieved.

Coverage can be tailored to include adverse costs protection, own side’s disbursements, and Counsel fees.

Cross Undertaking in Damages Insurance

In the event that you need to obtain a freezing order should a defendant try and disperse assets, we are able to source Cross Undertaking in Damages insurance to back these orders. Coverage can be provided for both opponent’s legal costs and awarded damages thus fully protecting you should an opponent successfully overcome an order and receive compensation.

Insolvency litigation funding and assignments

In addition to insurance, we work with specialist funders who, for a share of recoveries, can either provide monies to pay for the legal costs, including insolvency practitioner fees, or can take an assignment of the claim and litigate under their own name, thus absorbing the cost and risk of litigation but still return competitive recoveries to creditors.  This enables insolvency practitioners and creditors to pursue matters where there is no finance available or to close an estate but not lose the potential to recover monies from any meritorious but un-actioned litigation.    The funding agreements may incorporate an upfront payment with a more significant return also factored at successful conclusion.  Monies can be distributed directly to creditors thus truly freeing the officeholder to move onto other matters either within the estate or elsewhere.  This arrangement can often yield better returns than other more traditional funding or CFA options.

M&A and Transactional Risk Insurance

Transactional Risk policies are tailored insurance solutions, specifically designed to remove potential, unknown or identified risks from a transaction scenario.
Insurance policies can be created to address exposures faced by transaction parties and their advisors at every stage of the deal-making process.
Transferring potential or identified liabilities to insurers, offers stakeholders certainty and thereby facilitates efficient transaction execution.

Contingency and Specialist Insurance Products

Contingency Fee Insurance

Covers own side’s legal fees and Insolvency Practitioner fees related to litigation work. Cover can be arranged for individual matters or on a portfolio basis to enable protection to the firm, allowing an increase in the amount of self-funded contingency work.  This increases opportunity to acquire new clients by giving a competitive advantage as it reduces the need to charge fees upfront.

Security for Costs

Insurers provide Deeds of Indemnity or Anti-Avoidance Endorsements to ATE policies to satisfy a Security for Costs award in the courts. This stops the need to provide a cash guarantee and mitigates cash-flow pressures as it is a cheaper alternative to other guarantees.  Courts and opponents accept this products as satisfactory security.

Judgment Preservation Insurance

Protects Claimants that have won damages through a court judgment/tribunal award against the risk of reversal or reduction on appeal.  This helps claimants lock in the value of an award and avoid a ‘total-loss’ scenario.  Awards can be monetised using the policy as collateral in obtaining financing or recognise judgment related earnings in their P&L.