After the event insurance does exist. Here’s how to get ATE insurance in Canada…
A fail-safe solution. Lawyers work hard to defend the interests of their clients. Whether you work as an independent lawyer or are part of a law firm, you know there’s no guaranteed outcome when a case goes to court. Any case can result in unanticipated and significant legal expenses. And this is why more and more lawyers and law firms offer their clients After The Event, or ATE insurance in Canada.
With ATE insurance, your client will be protected even in the event of a worst-case scenario. Essentially, “ATE insurance is a legal expense insurance policy that fully protects your client against their opponent’s adverse costs and their own disbursements, should the case fail or be abandoned.”1
And with a national 2015 Canadian Lawyer Magazine survey finding that “the average five-day civil trial cost $56,439”2, the cost of going to court is top of mind for every client.
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Personal injury claims and ATE insurance in Canada
After a slip and fall or car accident, a client who is making a personal injury claim may be concerned about losing their claim in court. ATE Insurance is a Canadian made insurance product that is specifically designed to protect clients who make personal injury compensation claims.
ATE coverage provides protection against liability in the event an insured client’s case is not successful. In the event that a personal injury claim is lost, a ATE insurance policy will pay up to a $100,000 maximum for the combined amounts of:
- Opponent’s legal costs and expenses your client is required to pay,
- Your client’s disbursements incurred in pursuing the claim,
- The cost of your client’s insurance premium.
When you offer ATE insurance in Canada to your clients, you deliver legal expense insurance that will respond to personal injury claims.
What else does ATE insurance in Canada do for law firms?
ATE insurance in Canada gives you a tool that specifically protects against the worst possible outcome. ATE also assists your law firm by providing cost certainty for your client when raising a case and your firm’s associated investment in investigatory disbursements. Thus ATE empowers you to accept more clients, knowing that their disbursements are secured.”
Wondering where you can get ATE insurance in Canada for your clients? ALIGNED can help.
We know it’s important that you have the best possible insurance and risk management tools at your disposal. Our experienced insurance brokers can help line up ATE insurance options that will address the needs of your clients in Canada.
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