ATE INSURANCE PROVIDERS

ATE Insurance Providers

ATE insurance providers can come in several different styles and structures, and can have many other slightly different USPs, that even a trained lawyer or solicitor would find problematic in deciphering, let alone a retail consumer or lay client.

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Choosing the right ATE insurance provider is essential if you want to avoid any unnecessary problems with claims payments, solvency, or longevity further down the line if you need to call upon them if your legal claim doesn’t work out the way you had planned.

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An ATE insurance providers primary role

As the primary role of all ate insurance providers is to pay the claims of unsuccessful claimants if their legal case fails, which may include very significant sums for some or all of the other side’s costs as well as their own legal costs, expenses and disbursements, you or your solicitor must ensure that any ate insurance providers you are considering using are reputable, solvent, financially robust, and likely to still be around in the future, if a claim is needed to be made under an After The Event Insurance policy.

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The structure of ATE insurance providers

Ate insurance providers in the UK usually fall into one of two main categories, namely a direct insurance co, or a managing general agent (MGA). The direct writer has its own insurance capacity, knowledge and distribution network. MGAs on the other hand are cover-holders of insurance companies, who usually have delegated authority to act as agent of the insurer and bind risks on their behalf. MGAs usually have the expert knowledge and distribution capability to deploy the capacity of general insurers, who are not experts if the field of legal expenses insurance.

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7 questions to consider when selecting an ATE insurance provider

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• 1.      Is the potential provider a direct insurer or MGA?

• 2.      What is the financial strength or rating of its capacity provider/s?

• 3.      What areas of litigation does the ATE insurance provider cover?

• 4.      What limits of indemnity and jurisdictions are they able to write?

• 5.      What is the providers reputation and standing in the market ?

• 6.      What is the experience of the team, management and business owners?

• 7.      Is the ATE insurance provider likely to still be around in 5-10 years time?

ATE insurance providers directory

The directory below contains a selection of reputable After The Event, or ‘ATE’ Insurance providers that should be considered for further discussion and due diligence if you or your client is seeking an ATE insurance provider partner.