News
17th May 2010
Exclusive Litigation Insurance Product Arranged for Seddons Clients
Seddons Litigation Department are proud to announce the establishment of an After The Event (ATE) insurance scheme with Elite Insurance Limited Authority in association with leading legal insurance brokers, The Judge.
Under the scheme, Seddons have delegated authority to issue a uniquely designed ATE policy. The policy is available for a wide range of commercial and private client litigation disputes. This is an exciting policy which provides a litigating client with a complete indemnity to the extent of all adverse costs, in the event of that client losing the case and being ordered to pay the costs of one or more opponent. This means that if the case is unsuccessful, the Insurer picks up the costs of the winning parties and the clients own expenses and disbursements including Counsel’s fees up to the level of the indemnity. The only thing that is not covered by the policy is the clients own solicitors fees.
The premium for the Policy is only payable at the end of the case. Moreover, if the client loses the case, the premium is covered by the Policy so that the premium is effectively waived. Conversely, if the claim is successful then under the Civil Procedure Rules (although the Jackson Report has recommended changes to these rules), the client can reclaim the premium from the other side.
The premium is designed with 5 (non-accumulative) steps so that the liability for the premium remains proportionate to the costs in the litigation and therefore more readily recoverable. This also means that the other party has a greater incentive to settle to avoid a potential liability for a higher premium if the case proceeds to the next stage.
Whereas these products are widely available for personal injury and clinical negligence claimants, Seddons are one of only a very small group of firms who are able to offer a delegated authority ATE scheme across a wide spectrum of mainstream commercial and private disputes, including professional negligence claims, contract disputes, property litigation and even defamation claims.
Marvin Simons Head of Disputes said “The benefit of this insurance, is obvious. Where such insurance can be secured, clients are no longer constrained in their ability to fight a justifiable claim by the commercial worry of heavy costs if they lose the case. With this cover in place, the only considerations will be the real merits of the case, and the merits of any sensible offer by another party with a view to settling the claim.
For further details please contact Marvin Simons on 0207 725 8057 or at marvins@seddons.co.uk
The premium for the Policy is only payable at the end of the case. Moreover, if the client loses the case, the premium is covered by the Policy so that the premium is effectively waived. Conversely, if the claim is successful then under the Civil Procedure Rules (although the Jackson Report has recommended changes to these rules), the client can reclaim the premium from the other side.
The premium is designed with 5 (non-accumulative) steps so that the liability for the premium remains proportionate to the costs in the litigation and therefore more readily recoverable. This also means that the other party has a greater incentive to settle to avoid a potential liability for a higher premium if the case proceeds to the next stage.
Whereas these products are widely available for personal injury and clinical negligence claimants, Seddons are one of only a very small group of firms who are able to offer a delegated authority ATE scheme across a wide spectrum of mainstream commercial and private disputes, including professional negligence claims, contract disputes, property litigation and even defamation claims.
Marvin Simons Head of Disputes said “The benefit of this insurance, is obvious. Where such insurance can be secured, clients are no longer constrained in their ability to fight a justifiable claim by the commercial worry of heavy costs if they lose the case. With this cover in place, the only considerations will be the real merits of the case, and the merits of any sensible offer by another party with a view to settling the claim.
For further details please contact Marvin Simons on 0207 725 8057 or at marvins@seddons.co.uk