Legal Cost Protection to Change Canadian Litigation
September 3, 2014 | Bridgepoint Financial |Posted in News
"Just as ATE insurance has become a standard part of the retainer process in the U.K., BICO expects that legal cost protection will become an integral part of the retainer process in Canada"
Irwin Mitchell, a leading U.K. law firm, has recently reported that it has been retained to act in a number of professional negligence actions against lawyers by commercial clients who were not advised about the availability of “after the event” insurance (also known as ATE insurance). ATE Insurance in the United Kingdom is similar to legal cost indemnities offered by our company, BridgePoint Indemnity Company (BICO) in Canada, that protects clients against adverse cost exposure in the event they are unsuccessful prosecuting their claims (plus the option to purchase protection for their counsel’s own costs or disbursements).Insights