ATE Insurance
ATE Insurance Introduction:
After The Event insurance otherwise known as ATE or ATE Insurance is essential for solicitors who run cases on a Conditional Fee Agreements with their clients. ATE Insurance provides cover If a case is lost as the policy will normally repay the other side’s costs and disbursements together with the claimant solicitor’s disbursements. The ATE Insurance policy also usually insures its own premium, meaning the client usually has nothing to pay if their case is lost.
A number of solicitor firms have been running cases on the basis of an informal agreement with their client that if they lose, the solicitor will indemnify the client for all their liabilities. In the case of Dix v Townend, the judge ruled that this agreement constituted providing insurance without a licence. Even though the claimant’s solicitor won their case, the judge disallowed their entire costs for this reason meaning the solicitor was out of pocket to the tune of a six figure sum.
Law Link can offer fully deferred ATE premiums on their policies, which means the ATE Insurance premium does not have to be paid until the case is concluded. If for any reason the solicitor decides a case has no prospects of success, the policy can be unwound, which means the client is taken off cover and there is nothing to pay. We pride ourselves on offering a very high level of personal service to our panel members, combined with commercial terms which are attractive as any in the market place.
Law Link also enjoys a thriving bespoke ATE Insurance product for the more complex Personal Injury cases including RTA, Employer, Public and occupier liability cases as well as medical and clinical negligence as well as Industrial disease cases. We also insure commercial cases and have a successful ATE insurance book and retains agencies with most of the main underwriters in this field.
We offer a professional broking service to solicitors who are looking for commercial or Bespoke ATE Insurance solutions. Because of our experience in the market, we are able to save the solicitor time and money by assessing a case and placing it with an appropriate underwriter straight away. This also means we are able to speak directly to the correct people with any queries and to ensure a prompt response is received when required. There is also no need for the solicitor to set up an agency with the insurer as would be the case with a direct relationship. There is no cost to the solicitor for our service and the level of premium is the same as it would be on a direct basis.
| Download our Bespoke/One off ATE Insurance proposal form for PI Cases | Commercial ATE Insurance Proposal Form | ||
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Law Link panel firms can insure all their cases with confidence at the outset, secure in the knowledge that this valuable facility is there as back up.
This also encourages clients who may not otherwise go down the litigation route for fear of losing their case and receiving a large bill from the other side. This means that you can maximise your conversion of enquiries to actual paying cases. Furthermore, the presence of an ATE policy can also encourage the defendant to settle, as they know you will be prepared to issue proceedings and go to court if necessary.
Personal Injury Deferred ATE Policies Product Features:
• Fully underwritten in the UK, FSA regulated, backed by the Financial Services Compensation Scheme
• Easily recoverable premiums with a track record of years of success
• Range of policies available: use those which best suit your requirements
• Cover can be increased where required eg for multi track cases
• Funding solutions available
• We can introduce you to CMC’s who are looking to place a range of different case types
• No tied suppliers, although Law Link are happy to recommend Doctors’ Chambers for medical services
Commissions:
• Highly competitive commission schemes including profit share available
• Range of payment options
• We can help you ensure you are fully compliant with SRA commission rules
Procedures:
• Simple referral procedures online, by fax, by DX or post as you prefer
• Online access to your cases via our case management system, eMeritus
• Prompt assessment of cases with cover usually in place on PI cases the same day
• Straightforward administration and reporting procedures
• Quick and easy to make a claim
• Full training provided in all aspects of the system
Financial Irregularity Deferred ATE Insurance Policy Features
• Fully underwritten policy
• Available for PPI mis-sell and unenforceable credit agreement cases (subject to criteria)
• Premium deferred to end of case
• Online realtime delegated authority
• 90 day unwind by self- certification: evidential cancellation thereafter
• Part 8 proceedings underwritten if premium challenged
• Highly competitive 3 stage premium levels:
Premium (inc IPT) Indemnity (50% each side)
Stage one: £410 £25000
Stage two: £1200 £50000
Stage three: On application £100000
• Stage one is at inception of case
• Stage two is at issue of proceedings
• Stage three is at 45 days before hearing date
For more information Contact: Mark Carpenter: 0161 777 1102 or email: ate@lawlinkltd.com
Watch our 4 minute video on ATE Insurance and Law Link here...
Law Link (ATE) Ltd is regulated by the Financial Services Authority
Our authorisation number is 315021. Our regulation is recorded on the FSA website at http://www.fsa.gov.uk/register/home.do