After the event (ATE) insurance covers the legal costs if your claim isn't successful, and is used alongside no win no fee to take the financial risk out of making a claim. Your insurance will cover: Any costs your solicitor has had to pay while making your claim, such as reports, further investigation, and court fees.
Public liability insurance for events protects you, your business, and the event itself, against claims from members of the public for injury, illness or accidental damage. For example, if your event causes property damage to nearby residents, or someone is injured from faulty equipment, you hold the legal liability.
The main benefit of ATE insurance is that it removes the risk of having to pay the other side's costs and, where covered, your own disbursements, such as medical reports, barrister fees and court fees, where you are unsuccessful in a claim.
What is ATE insurance? ATE insurance enables people to pursue a personal injury or clinical negligence claim by providing financial protection. An ATE insurance policy covers clients if they have to pay their opponent's legal costs and own costs/disbursements incurred as a result of bringing a legal action.
What is the difference between before the event insurance cover and after the event insurance cover?
BTE insurance is taken out before the prospect of legal action arises and, as mentioned above, is sometimes included in pre-existing insurance policies. On the other hand, After The Event (ATE) insurance is purchased after a legal dispute has arisen and is usually arranged by your solicitor.
Before the event insurance or BTE insurance is insurance which the client already had before the prospect of legal proceedings arose (for example, as part of the client's house insurance or car insurance policies) and which covers some or all of the client's potential costs liabilities in any subsequent proceedings.
Payment of the insurance premium is deferred until conclusion of the case. Therefore in the happy event your client wins their case, only then would they have to pay it. If the client loses their case, they do not pay the premium since it is self-insured by the policy.
The level of premium payable depends on the type and level of cover sought and assessment of the risk, can typically be 30% to 45% of the sum insured, or may be calculated as a percentage of the costs incurred at the date a claim is successfully concluded by negotiation and/or in court proceedings.
Why would claimants need to take out after the event insurance?
The main advantage of after the event insurance for an individual or a business is that it removes the risk of having to pay the other sides's costs – and it can also cover own solicitor's fees and disbursements if the case is lost.
The cost of the ATE insurance premium depends on the particulars of your case, including the type of claim, how strong it is and how early in the claims process you purchase the policy. Typically, the overall premium is 30% to 40% of the sum insured.
There is no legal requirement to have public liability insurance for a private party, but it is recommended – even if the party is being held at your business premises. If you are hiring a venue, they may require you to have insurance protection as part of their terms and conditions.
Do I need public liability insurance for an event?
By law you don't need to have insurance for a voluntary or community event, but it's worth having cover in case something goes wrong and someone makes a claim against you. The level and costs of cover varies depending on your needs and the types of activities you are planning.
What happens if I lose a No Win No Fee compensation claim? A No Win No Fee agreement covers you from having to pay your legal fees should you lose your case. This means in the event that you did lose your case, you wouldn't be charged any legal fees.
as this premium is not recoverable from the other side, then this will act to increase the costs of the proceedings and so after the event insurance is only appropriate for certain types of claim and acts to a certain degree in a similar way to a contingency fee payable under a damages based agreement with a solicitor.
An insurance premium is the amount of money an individual or business pays for an insurance policy. Insurance premiums are paid for policies that cover healthcare, auto, home, and life insurance. Once earned, the premium is income for the insurance company.
As a result of these changes, ATE insurance premiums are no longer recoverable from the other side unless the policy was taken out before 1 April 2013, or it relates to one of the excepted cases. This note relates to ATE insurance arrangements made before 1 April 2013 and in the excepted cases.
An ATE policy is a policy of insurance taken out to cover the risk of losing your case and having to pay the opponent's costs. The ATE premium is the cost of that policy. In personal injury cases the policy is usually taken out on your behalf by the solicitor without you having any direct contact with the insurer.
What does ATE Insurance Cover? After The Event Insurance policies normally cover the legal costs which a Claimant must pay to a defendant when a claim is unsuccessful – when the claim is either lost at trial, or abandoned/settled after the defendant has incurred costs which the claimant is liable to pay.
What are the benefits of before the event insurance?
BTE is designed to protect people from potential costs that could crop up following an incident that leads to legal action being fought or defended. It covers the fees of lawyers, solicitors, barristers, expert witnesses, court fees, court fines and any legal costs that are awarded to the other side.
So, what exactly is ATE insurance? After the Event ('ATE') Insurance covers the legal costs involved in your claim so you won't have to worry about being left with a bill you can't afford. If you lose your case, you're expected to cover the legal costs of the party you were claiming against.
What is before the event legal expenses insurance?
Before the event (“BTE”) – the policy provides cover for customers to pursue or defend legal action that may happen in the future. These policies can be sold as a standalone insurance policy, but they're commonly found as an optional extra to home or car insurance.
They will also discover the key stages in the life cycle of an insurance policy—from initial planning and product development, through policy application and underwriting, and finally through policyowner service and claim administration.
