Simply complete the proposal form on our website or download it. Once the form is completed, you can submit it or alternatively the form can be sent to firstname.lastname@example.org as a Word, JPEG or PDF file. When submitting document(s) via email please make sure you include your customer ID in the subject line.
If you have any questions that you wish to raise when completing the form or when considering whether to complete it, please contact us. We will be happy to discuss any issues that you want to explore.
Applications from the claimant’s solicitors, insurance brokers or directly instructed counsel are welcome. Lakehouse does not deal directly with claimants or potential claimants.
As soon as there is sufficient evidence and advice that enables the claimant’s lawyers to conclude that the case has good prospects of success (60% is a preferred minimum estimate although the percentage exercise is recognised not to be a precise science!)
Remember that the evidence must demonstrate the ability of the defendant to pay damages and costs.
Avoid adverse selection. For example, repeated attempts at settlement of the case before applying for insurance, having first obtained the evidence and advice that demonstrates a strong case, will not assist the claimant’s application.
A decision to offer or decline to offer ATE Insurance will be made within 7 working days of receiving all the information required.
Occasionally it will be necessary for this time period to be extended. We will communicate a time limit for a decision or offer. You will be kept informed. We appreciate that you and your client value a prompt decision whatever the outcome.
When a risk is declined, we will provide brief reasons.
Our policies are useful in respect of any application for security for costs raised by a defendant. It is generally recognised by Courts that although the policy is not written for the benefit of the defendant, if the policy is provided by a reputable insurer without unnecessary restrictions, it should at the very least be taken into account in respect of the amount of security ordered by the Court.
Lakehouse can endorse a Policy, in suitable cases for an additional premium to provide additional protection directly to the defendant attempting to either obviate the need for any other security or reducing the amount ordered by the Court significantly.
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%.
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.
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.
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.
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.
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.
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.