The new racing spinnaker sail of the Astraea
Enigma is fortunate to have and maintain a long-standing relationship with Temple Legal Protection, which provides After The Event insurance in litigation to Enigma Clients in appropriate cases.
The Directors of Temple are former solicitors and experienced underwriters who, in every case, assess any matter commercially before considering whether or not to offer terms. Enigma’s Neil Mercer has successfully insured disputes with Temple over many years. Enigma always considers the full range of products available and is not financially linked to any particular provider of insurance in any way; the reason that Temple’s products are so often chosen is quite simply because they are frequently the best on offer. Part of Temple’s assessment criteria is inevitably the skill and experience of the solicitor bringing the action.
Recently the Partners of Enigma, Rory Smith and Neil Mercer, met with Mr Chris Wait (Managing Director) and Mr Michael Lent (Underwriting Director) of Temple Legal Protection to discuss ways in which Enigma can secure for its clients an even broader range of insurance protection and funding in relation to court proceedings.
Rather than hold the meeting in a board room or by telephone conference call, Rory and Neil were invited to discuss the matter onboard Chris Wait’s yacht, Astraea. Along with other guests, Rory and Neil sailed out of Portsmouth for the day from Gosport to the Isle of Wight and enjoyed lunch in the Cowes Yacht Club. The Directors of Temple took the opportunity to raise their new racing spinnaker sail in the breezy conditions.
In civil proceedings the Court normally orders the unsuccessful party to pay the successful party’s legal costs (unless the case is heard in the small claims track of the County Court).
The costs of fully fought proceedings can be substantial and it is critical to consider this issue with your solicitor and, if appropriate, to take precautionary steps before embarking on litigation.
After The Event insurance is a form of insurance which will pay your opponent’s legal costs for you in the event of an unsuccessful outcome.
If you obtain After The Event insurance there is an insurance premium to pay. This is something to discuss with your solicitor on an individual basis. Often Enigma obtains terms of insurance through Temple Legal Protection Limited who offer a scheme whereby the premium is “self-insuring”. This means that you only become responsible for paying the premium in the event that you are successful with your case and at that point you will then be able to claim the premium from your opponent as part of your legal costs.
The insurance premiums can be very high and it is therefore important that you discuss with your solicitor the risks involved and in particular whether your opponent will be able to pay the premium, if you are successful.
Parties who obtain After The Event insurance often find that this is a factor which increases the likelihood of managing to settle the case rather than having to proceed to trial.
Enigma advises its clients in all appropriate cases about the role of After The Event insurance. If you would like to know more about After The Event insurance please speak to one of the Partners. For more information about Temple Legal Protection please visit their website.
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