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| WHAT IS After Event Insurance? |
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| After Event Insurance is a type of legal expenses insurance policy that can be acquired after the cause of the legal dispute has arisen and notice has been given of pending litigation. It provides cover against the legal costs and disbursements incurred as a claimant or defendant in a dispute.
Risk of litigation: Solicitors are required under the Solicitors' Code of Conduct Rule 2.03 to advise and discuss with their clients the risk of litigation and to ensure that their client can fund any litigation that they embark on including the potential liability for any other party costs.
The risk of litigation is not simply about losing the case but having to pay the costs of the other party. This includes all legal fees and any disbursements. These fees can often be considerable.
Managing the risk of litigation: If you are involved in litigation, by purchasing an After Event Insurance Policy, you as the insured can rely on the insurance company paying the opponent's costs on your behalf should you lose. The courts often allow the premium charged for these policies to be recovered from the opponent if you win your case.
After Event Insurance Policy: This can cover all legal costs including your solicitor's costs. However it is usual for your solicitor to enter into a conditional fee agreement whereby you do not pay his fees unless you win your case.
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