Litigation Assure combines conditional fee funding (sometimes referred to as “no win, no fee”) for Langleys’ clients’ own legal fees with After the Event insurance cover to pay opponents’ legal costs should the litigation be unsuccessful. The insurance premium is only payable if the case is won and then is recoverable from the opponent.
Rob Ripley, Partner and Head of Dispute Resolution at Langleys said: “Clients usually have to fund their own litigation costs as well as accepting the risk of paying their opponents if their claim fails. Many businesses with strong claims simply can’t afford to take that kind of risk – especially in the current economic climate.”
He added: “It seems likely that conditional fee funding and insurance cover on such attractive terms will become a thing of the past in the foreseeable future. While Langleys and Firstassist are confident that they will find alternative ways to make litigation less of an expensive gamble if and when things do change now is the time to take advantage of a very favourable funding environment.”
Ross Clark, Underwriting Director at Firstassist added; “After the Event insurance combined with conditional fee funding can provide access to justice by removing the burden of legal costs for cases of merit. In today’s economic environment this can greatly benefit many commercial entities and ensure efficient management of the financial risk of litigation.”
For more information or to speak with Rob call 01904 683 256 or send him an
email.