07 Aug What Does After The Event Insurance Cover?
If it’s possible that you will soon be a claimant or the defendant in a court case, you should definitely consider acquiring After The Event insurance. This is a form of cover that may prove invaluable to you as you incur various fees and costs connected to the court proceedings. It’s most commonly used by the claimants in a case, and comes in particularly useful for personal injury and employment tribunal claims – though it can be tailored to work for all kinds of cases. So what exactly does it cover? Prosperity Insurance Brokers have dealt with many After The Event insurance policies, so read on to learn a little more about this potentially vital type of cover.
What Exactly is After The Event Insurance?
This particular kind of policy is one that is used to recover legal costs. “The Event” in question is the incident or behaviour that first prompted legal action, so it’s important for the policy to have been purchased before any significant expenses are incurred – as it’s extremely rare that this type of cover works retrospectively. There are a number of types of premium available, from fixed to staged to types based on a percentage of damages, and these can be paid in one of several ways: in a lump sum at the start, part before as a deposit with the remainder at the end following a favourable settlement, or the entirety being paid afterwards. It’s possible to shop around and find the perfect arrangement to suit you, your case and your finances.
Who and What Is Covered by After The Event Insurance?
This kind of policy can either cover the claimant or the defendant in a case. If a claimant is unsuccessful in pursuing damages or any other amounts, they must usually pay legal costs to the defendant in the case. After The Event Insurance can cover them for this amount. It could also be the case that the claim is abandoned or settled following the defendant racking up expenses that the claimant is legally obliged to pay, so cover of this kind can be used in that eventuality too. When it comes to certain cases – personal injury, for example – a policy can also be arranged to cover amounts spent when pursuing a claim; collecting reports and undertaking certain investigations, for example. Issues involving Counsel’s fees and other litigant’s costs can also be resolved using After The Event Insurance.
So, How Exactly Can After The Event Insurance Help Me?
If you’re a claimant concerned about the funds required to pursue an issue in court, or the possibility of losing a case and having to pay substantial sums to the defence, opting for After the Event Insurance could prove invaluable. This kind of policy affords you a firmer leg to stand on if the legal opposition take to throwing their financial weight around, plus it can offer you substantial peace of mind – meaning that you can focus on your case instead of worrying about how you’ll be able to cover your expenses.
Who Can Help Me To Obtain After The Event Insurance?
This type of cover is regularly offered by lawyers or solicitors as a part of their services, and it is highly recommended that you take your legal advisors up on this should it be an option. To ensure that an experienced professional within the world of law is taking good care of your financial cover allows you to concentrate your efforts on the task at hand. While searching for and managing an After The Event insurance policy for yourself could be considered courageous, the stress involved could prove distracting when you have equally important matters to attend to elsewhere.
What Should I Do Now?<
If it seems likely that you are soon to pursue or defend against a claim in court, the best thing to do is to seek legal assistance immediately, then discuss the possible After The Event insurance options available with your chosen representatives. If you wish to contact Prosperity Insurance Brokers to find out more about your specific case and the types of cover you could arrange, all you need to do is call them today on 01481 254954, email them via email@example.com or get in touch using the handy contact form on their website. One of their knowledgeable experts will get back to you as soon as possible, and you’ll be in safe hands as you navigate your case, knowing that your legal expenses are covered. Find a little peace of mind by arranging your policy today.