After the Event Insurance
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Commercial Litigation

What we do

Lakehouse’s ATE Insurance can be provided for any type of dispute other than a personal injury claim or clinical negligence claim where significant damages are to be recovered or there will be other some other financial award such as the increase in the value of an asset, be it real or intangible.

ATE Insurance for Commercial Litigation is provided for claimants, pursuers or plaintiffs (“claimants”) in any tribunal in England & Wales, Scotland, Northern Ireland where costs will follow the outcome. ATE Insurance will only be considered for defendants or defenders if they have a Counterclaim that, in effect, makes them the claimant.

The Benefits

Our ATE insurance policies can provide the security required to avoid or defeat applications for security for costs.

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Application Process

Simply complete the proposal form on our website or download it. Once the form is completed, you can submit it by email as a Word, JPEG or PDF file.

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Who do we insure

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Businesses

We insure all types of businesses in respect of the wide variety of their disputes. Many of these disputes involve a smaller business using litigation funding and insurance to take on much larger businesses who are using their financial muscle to avoid their legitimate obligations.

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Insolvency Practitioners

We insure a wide range of claims on behalf of I.P.s against former directors/shareholders or against other individuals or businesses that have caused the insolvency.

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Individuals

We insure individuals who are high net worth individuals or who would be but for the activities of the defendant. We also provide insurance in respect of group actions.

Clear, easy to understand quotes and policies are provided, backed by an A+ rated Insurer.

ATE Litigation Cover?

Cover can be provided where the minimum level of protection required is £100,000. Our ATE insurance policies can assist in providing security for costs or avoiding the need to do so.

  • Own disbursements and expenses which can include counsel’s fees
  • Adverse costs for interlocutory hearings
  • Adverse costs awarded on judgment
  • Any deferred premium

Premiums

We will insure risks from £100k up to £2M and can, with the agreement of our Insurers, insure risks up to £5M.

A deposit premium is required which is non-refundable. Typically, the remainder of the premium will be deferred and adjusted in steps to reflect the increase in risk as the case reaches trial.

Payment of the deferred element of the premium can be contingent on the outcome of the litigation or paid in instalments, depending upon the model offered by us and agreed with the insured, their solicitor and funder. Structuring the premiums in this way enables them to be competitive, especially in the later stages of the litigation.

Limits of Indemnity

The maximum limit of indemnity provided is negotiable.

Value of Litigation/Quantum

Cover can be provided where the minimum level of protection required is £100,000 or the Euro equivalent.

Cover can be provided where there may be no immediate award of damages but the successful outcome of the claim will increase the value of an asset that is the subject of the dispute, significantly.

Case Types Include

It is often surprising to encounter the diversity of the disputes we are invited to and do insure. We do not exclude any particular type of dispute from consideration simply because it does not “tick a box”.

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FAQ

How expensive is Lakehouse’s ATE insurance?

ATE insurance premiums start at around 10-15% of the sum insured. It then increases in pre agreed steps as the claim proceeds towards trial. It is difficult to be specific, since there are many variables, such as whether or not the premium steps are deferred until settlement of the case or are being paid by a funder as the case progresses, but by trial, the premium will be around half the value of the sum insured +/-15%.

How long does it take to obtain a quote?

If all the information is available we will be able to provide a quote within 7 working days. However, it is often the usual underwriting process that we will raise questions or seek further information in respect of the submission provided. Therefore assuming , the responses are answered quickly, 3- 4 weeks is usual.

How long does it take to put a policy in place?

If the necessary information is readily available, we will be able to put a policy in place within 28 days from receipt of a proposal.

When should an application be made?

It is difficult to be specific but essentially, when the legal team have sufficient information and advice to form a firm view about the merits of the case. It is always wise not to leave any application too late, or too close to an application or trial.

 

Should the application be made to insurers or funders first?

We are relaxed about this. We understand that if funders are involved, often they will not make any offer unless an insurer is on board. Equally the insurer may not want to commit unless they know that a funder will pay their premium. Applications will be welcomed by us at any stage during this process.

I am a claimant in person or a business. Can I make an application to you directly?

We cannot deal with such direct applications. We can only deal with applications submitted by a broker and/or a solicitor acting on behalf of the potential insured.

Can the policy be used for security for costs?

The law remains unclear on this point. However if a policy is provided by Lakehouse underwritten by Axis an A+ rated insurer, at the very least it should  reduce the amount of security that will require to be provided.