After the Event Insurance
Maybe you have heard of the no win no fee agreement that people in England and Wales can use when they file a accident claim. It could sound like there are no fees at all to be paid when actually it does not mean that. The Conditional Fee Agreement protects the unsuccessful claimant against having to come up with money to pay the lawyer. But, it is the losing party that pays the costs of the winner.
The reasonableness of any of these costs are not something that the court will assess and these fees can certainly be substantial. As a protection to this liability, the solicitor will advise the claimant that a certain type of insurance can cover this type of condition. This insurance is called After the Event insurance and the cost of this insurance will depend on the facts that come with the case.
This insurance must be purchased at the beginning and if the claim is successful, that cost will be recoverable. As the claim progresses, the client must pay the costs that are part of the claim and this is known as disbursements. This could include things like, court fees, medical records and the fees for a medical expert, if one is needed.