Dentons seals deal to provide ATE insurance
Denton Wilde Sapte has sealed a deal with a major insurer placing it among the few major law firms with authority to broker after-the-event (ATE) insurance for litigation clients. The top 20 UK firm signed a deal with FirstAssist Legal Protection giving the firm delegated authority to set up insurance for an unlimited number of cases across fields including property, professional negligence, construction and general commercial litigation.
April 21, 2010 at 07:04 PM
2 minute read
Denton Wilde Sapte has sealed a deal with a major insurer placing it among the few major law firms with authority to broker after-the-event (ATE) insurance for litigation clients.
The top 20 UK firm signed a deal with FirstAssist Legal Protection giving the firm delegated authority to set up insurance for an unlimited number of cases across fields including property, professional negligence, construction and general commercial litigation.
Dentons has provided training to its partners on how best to advise clients looking to receive ATE insurance, which insures losing claimants against having to pay the costs of their opponents' legal fees, as well as barristers' fees and court costs.
Initially, Dentons will be able to offer the insurance in cases where fees are not expected to exceed £300,000, although this figure could increase to £2m for cases taken on under conditional fee arrangements (CFAs).
Dentons dispute resolution partner Andrew Myers, who has been managing the deal, commented: "This arrangement will give our clients much more confidence and security to pursue important business disputes in court. The insurance, combined with CFAs, allows us to be far more flexible than most law firms in meeting clients' litigation needs."
Pinsent Masons became one of the first firms with delegated authority to offer clients ATE insurance after sealing a similar deal with First Assist in September.
Addleshaw Goddard is also attempting to obtain delegated authority, kicking off talks in June 2008 with insurer QBE. The agreement was never struck, however, although discussions are ongoing.
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