This episode is all about ATE Insurance, After The Event Insurance. This is a type of insurance policy aimed at commercial litigation. In that, it is a tool that can be used by some as a security to minimise legal costs in litigation. Quite different to your usual insurance policies where they are taken out prior to any event occurring. Here, as the name denotes, "after the event" insurance means exactly that. After the event of either the dispute or litigation occurring, you can then take out an insurance policy to cover legal fees in the event of an unsuccessful win. Litigation provides no certainty of outcome, it is risky, thus sometimes you do roll the dice, as they say, in going to court and the legal fees can be substantial. If you lose, you may be up for the other parties' legal costs. As to what those costs may look like at the beginning of a matter can never be given with any surety. The policy of insurance can apply if you are starting proceedings or if you are having to defend proceedings. This type of insurance has been in the UK for years and is quite common apparently. Now in Australia it is on the rise, most likely from class actions, and only 2 companies provide it. The fine print of this type of insurance policy must be looked at carefully to truly understand all the terms and conditions, which I suspect can be quite onerous, in particular what the insurance premiums may look like. However, it is an option that some may wish to explore. It is certainly not for everyone. But knowledge is power and with this episode you now have this information to explore your options.
https://www.youtube.com/watch?v=9KlSaYCh_k4
Despina firmly believes that being in the privileged position of a solicitor that she gives back to the community when she can. This has been transcended into her weekly radio show 'Talking Law' that is broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and has been going strong now since 2020. Despina talks about various hot topics at local, state and federal level, and answers the questions that ordinary Australians want to hear. And the best part, it is free. Despina is not paid for her time on air and she enjoys the fact she can give back to the community in this manner. Knowledge is power and her radio show is very much about empowering the ordinary Australian with information that they should be aware of to help them in every day life. Despina has a very big following on air and online with a facebook community page for the radio station and is always happy to talk with listeners off air.
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DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.
Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.
Updated : 4th November 2022 | Words : 0 | Views : 162
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