Adverse costs insurance, not to be confused with Attorney Fee Insurance, is generally well understood as a way of insuring a claimant or defendant’s “adverse costs” liability. It is sometimes referred to as ATE insurance.
TheJudge has been broking this specialist insurance for over 17 years for small and medium sized businesses through to large corporate enterprises, all of whom share a common aim of wanting to avoid unexpected financial shocks should their case prove unsuccessful.
Cover limits are tailored to the case in question. So, whether you’re a single claimant requiring a $200,000 adverse cost policy or a $10m cover limit, or perhaps the policy is sought for a group of claimants pursuing a securities or competition claim requiring greater than $20m of adverse costs protection, we can help.
Adverse cost insurance is not limited to litigation disputes. A fairly significant portion of our work at TheJudge is in respect of both commercial and international arbitration claims (including investment treaty claims).
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In addition to covering the adverse cost risk, insurers are often willing to also insure the plaintiff’s own expenses costs. This means that the plaintiff can insure the expenses (hard costs) they pay such as expert fees, travel fees, arbitrators fees and court fees against the risk of the case being unsuccessful. If the case loses, the insurer reimburses the plaintiff for the expenses they’ve incurred up to the insured limit of cover.
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