Litigation Funding and Insurance
Litigation can be expensive especially when a matter cannot be settled and proceeds to a hearing. However there are funding and insurance options that would be more than happy to discuss with you. Examples of the funding and insurance options available include:-
Before The Event Insurance Cover
This is something more likely to apply to individual as opposed to corporate clients. Many people have the benefit of Before The Event Insurance Cover without even knowing about it. A number of Home Contents Insurance policies have a provision to include legal expense insurance. In addition, some credit card companies also provide legal expense insurance. You should therefore always check whether you have such cover by contacting your insurers or your credit card company.
After The Event Insurance
This can be available to both individual and corporate clients usually where we have agreed to act under a Conditional Fee Agreement (see below). The general rule in Litigation is that the losing party will be liable for the winning party's costs. After the event insurance can provide an indemnify in respect of your obligation to pay your opponent's costs if you lose your claim. It can also cover your own disbursements (e.g. Court fees and, depending on the Terms of the ATE policy, Counsel's fees) if you are unsuccessful. We have over 20 years experience in advising clients about Insurance against Litigation costs risks and the options available. We will take all the necessary steps on your behalf to enable you to obtain the Insurance cover appropriate for your needs through our contacts with the Insurance Industry. Further, we would expect to arrange a policy of Insurance whereby the Premium payable to implement the cover is either recoverable from your opponent if you win or is itself a disbursement covered by the Policy if you lose. We can advise you fully on insurance tailor made to suit the particular circumstances of your case.
Conditional Fee Agreements (CFAs)
CFAs are commonly known as "no win no fee agreements". Where we agree to act for a client under a CFA then subject to the terms of the Agreement our client will not be responsible for payment of our fees with the exception of disbursements (Court fees, Counsel's fees and other professional fees etc). Typically a CFA will be backed by ATE cover (see above) which will aim to limit or remove the risk to you of having to pay any costs or disbursements if you lose your claim.
