The Stevens & Bolton LLP litigation funding model
Risk Assist is available to clients of Stevens & Bolton LLP.
It provides business clients with a means of funding and managing the costs of litigation or arbitration claims through to trial and of limiting risk and exposure in the event a case is lost.
By using Risk Assist, a claimant can:
• Limit its own legal costs on a conditional fee basis so that it only has to pay full fees if the claim is successful; and
• Limit the consequences of an adverse costs order with ATE insurance cover.
In order to provide the ATE insurance, Stevens & Bolton LLP has teamed up with Temple Legal Protection Limited, the specialist legal expenses underwriting agency, to provide insurance cover.
Insurers trust our judgment so much that they allow us to write the insurance for cases where cover up to £250,000 is required. If we decide to cover the case, it is covered, there is no need for the case to be referred to underwriters or other lawyers. Where cover is required beyond that, we will refer it to underwriters for an expedited decision.
If the claim succeeds, the legal fees and ATE insurance premium should be recoverable from the defendant. If the claim is not successful, the claimant will only be liable for the disbursements and any limited fees due under the agreement. The ATE premium is not payable as it is self insured.
Risk Assist can be used for any suitable commercial claim.
The Jackson Report - Review of Civil Litigation Costs
Implications for Commercial Litigation
In January 2010 Lord Justice Jackson's report entitled "Review of Civil Litigation Costs" was published, the result of his year long inquiry. To read our summary of this report and the implications for commercial litigation, please click here.
Risk Assist podcast
For further explanation of Risk Assist, please view our podcast by clicking on the screen below.
To download a copy of the podcast, please click on one of the following links:
podcast/video (download)
Audio file only (download)
PowerPoint presentation (printable)