Harbour Underwriting specialises in commercial dispute insurance

Legal expenses incurred in resolving a dispute can be substantial and pose a significant financial risk for any business. In most jurisdictions, the legal costs incurred in bringing or defending proceedings are recovered by the successful party from the unsuccessful party. An unsuccessful party, whether through discontinuance or trial, will therefore ordinarily be faced with a potentially catastrophic combination of having to pay their own legal bills while also being liable for their opponent’s costs.

Fortunately, both these ‘own side’ and ‘adverse’ costs are insurable by utilising the following types of insurance:

Before the Event (BTE) insurance is an insurance policy taken out before the incident which gives rise to the claim. Many business insurance policies have legal expenses insurance either built into them or offered as an optional extra. Typically, the limits of indemnity are small and unlikely to be able to cover a commercial claim.

Dispute insurance such as After the Event (ATE) insurance is purchased after a dispute has arisen and protects the claimant or defendant by reducing the potential downside in bringing or defending a claim. The limits of indemnity are tailored to the requirements of each case. Harbour Underwriting can write limits in excess of £20 million.

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