What is an ATE policy?
What is an ATE policy?
After the event (“ATE”) insurance is a type of commercially available insurance policy which provides coverage for legal costs, subject to an agreed limit of indemnity. An ATE insurance policy can provide cover for legal costs incurred in pursuing or defending legal proceedings.
Are ATE premiums recoverable?
From , where parties fund their litigation via conditional fee agreements (CFAs) and/or after-the-event (ATE) insurance, the CFA success fee and ATE premium are no longer recoverable from the losing opponent if the case is successful. The uplifted fee is called a success fee, and it is capped at 100%.
Is ATE insurance worth it?
In cases where ATE premiums are higher, the potential compensation settlement awarded is likely to be far higher as well. Therefore, the ATE premium will only form a small percentage of your entire settlement and represent good value for money.
Who pays for after the event insurance?
The After the Event Insurance pays your opponent’s legal fees. The After the Event Insurance pays for all the disbursements incurred (including the cost of the ATE)
How much does ate cost?
As a ‘ballpark’ – and based on many years’ experience – the cost of ATE as a global average tends to be between 20% and 30% of the amount of cover purchased. You could limit your budget as to the premium; we could seek as much cover as your budget will allow (and, if you share in the risk, an Insurer may charge less).
