Whilst there are no hard and fast guidelines as to what information will guarantee an offer of ATE insurance cover or litigation funding, the following tips will help strengthen your application.
SUMMARISE THE CLAIM
Nothing is more off-putting to an ATE insurer or funder than opening an application only to see a mismatch of correspondence and miscellaneous documents.
Summarise the case in one or two pages and provide the underwriter with a brief overview of facts of the case and the issues in dispute
State why your case is strong and try to pre-empt any questions that an underwriter or litigation funder may ask
The assessor now has a clear guide of what to expect throughout the remainder of the file. Remember, you have to win the approval of the assessors at the ATE insurer or funders, so make their life as easy as possible.
KEEP IT CONCISE
ATE insurers and third party funders do not necessarily need to see every single document, particularly if they are not going to materially assist their review. Ask yourself – What would I need to see to make an informed decision on this case?
DON’T HIDE THE PROBLEMS
If there is a particular point that is preventing settlement or likely to be a major issue in the case, address this in your application and state why it can be overcome and what steps you intend to take. This will help to speed up the application process by reducing the likelihood of ATE insurers or litigation funders requesting additional information.
Being open about key issues also gives the insurer or funder the confidence you have considered the issues and are being transparent. If in doubt or you have any queries over what to include or how to present any information please contact us.