Products
Innovative solutions for just litigation
We offer an extensive product range to meet the growing demands of the commercial litigation marketplace.
After The Event (ATE) Insurance is a form of litigation insurance built to protect against the risk of an adverse costs order.
Whilst originally designed as a consumer product for those bringing injury claims, ATE insurance has developed into a fully-fledged commercial product and is available to all litigants. This includes those involved in David v Goliath type litigation as well as those with the financial means to litigate, who wish to hedge their risk.
Ignite is a leading provider of ATE insurance which prides itself on prompt turnaround times and commercial decision making. Ignite understands the needs of each individual litigant are different and therefore provides a bespoke offering on each application.
Ignite can provide capacity of up to £4 million for any one piece of litigation on payment terms which can be flexible, providing for a reduced sum to be paid in the event of a settlement before trial.*
*Higher limits available on referral
To get in touch, please click here.
Security For Costs (SFC) is an extension of ATE Insurance used in circumstances where an opponent in litigation has applied for such an order pursuant to Part 25 of the Civil Procedure Rules (CPR). The CPR provisions are often enforced where a litigant appears impecunious or is domiciled outside of the jurisdiction.
Whilst the intention of Part 25 is to ensure that an opponent will be paid their costs if they succeed, the provision is often abused by opponents seeking to stifle meritorious litigation. An ATE policy can act as adequate security where the Court is satisfied that the insurer and product offering stand up to scrutiny.
Ignite can provide litigants with up to £4 million of SFC cover via an A- rated insurer.* Ignite’s team has been involved in providing SFC cover on multiple occasions and understand the considerations a Court will have, and the need of the legal team to move quickly where such an order is granted.
*Higher limits available on referral
To get in touch, please click here.
Solicitor Costs Cover is a novel offering to litigants by Ignite. This product provides cover for solicitor fees not covered by a CFA/DBA retainer, enabling a litigant to reduce the financial outlay of pursuing their claim.
The demand for this product stems from the reluctance of legal practitioners to place 100% of their fees at risk under a CFA/DBA. Whilst many law firms will be willing to offer up to 50% of their fees at risk pursuant to such an arrangement, few law firms will offer 100%.
The mechanics of the product provide that in the event of case failure, the solicitor’s costs will be indemnified by the policy. In the event a case succeeds, a premium will be payable which is deduced from the client’s damages.
To get in touch, please click here.
Capital protection is a new offering available to litigation funders by Ignite. This product enables litigation funders to deploy capital with the comfort that if the case fails, their investment will be returned to them.
Whilst the litigation funding market has developed significantly in recent times, the ability of funders to service the smaller claims market has been hampered by the large return funders need from successful cases to offset the risk of failure in unsuccessful cases.
The introduction of a Capital Protection product enables lenders to reduce their required returns and deploy capital more quickly, improving access to justice for litigants involved in smaller disputes.
Ignite are also able to provide Capital protection to litigants involved in high value disputes up to a maximum of £4M per policy.*
Ignite’s team has significant experience in the structuring of Capital Protection policies having been at the forefront of their design for several years. Ignite’s Capital Protection policy is available to all funders and provides for a direct contractual relationship between the funder as the insured and the insurer, which is A- rated.
*Higher limits available on referral
To get in touch, please click here.
CFA/DBA insurance is a new offering available to law firms by Ignite. The product enables law firms to enter a 100% risk sharing arrangement with their client whilst mitigating their risk through Ignite’s policy.
Ignite understands the difficulty commercial practitioners have in risking all their fees in any one individual case. The introduction of this product enables law firms to enter such arrangements whilst having the comfort that some fees will be earnt in the event of case failure.
Ignite’s product offering is available for all law firms and provides for a direct contractual relationship between the law firm as the insured and the insurer, which is A- rated.
To get in touch, please click here.
Capital protection wraps (also known as shortfall indemnity insurance) is an extension of the Capital Protection product offered by Ignite. Wrap deals insure a portfolio of cases to ensure that a funding entity is indemnified to avoid a negative return on investment into a number of cases during a certain time period.
This product utilises cross collateralisation within the Wrap to ensure profitable outcomes for all parties. It is this risk sharing and alignment that allows Ignite underwriters to offer Wrap deals at competitive pricing, with a structure that appeals to small local funds, as well as large, international funds. Wrap deals tend to be larger than standard open market Capital Protection policies (often running into the tens of, or hundreds of millions of pounds).
Ignite have a unique product offering that enables it to insure the entirety of these wraps without requiring additional capacity.
To get in touch, please click here.
Who We Insure
Ignite offers insurance to individuals, businesses, or insolvency practitioners providing that they have a meritorious legal dispute. We typically provide cover for:
We are committed to:
Businesses ranging from SME’s who are looking to balance the legal playing field, up to multinational corporates wishing to minimise their downside risk
Individuals who have a legal dispute which, if not for our suite of products, would be unable to have access to justice
Group/class actions where the court awards permission to individuals to bring similarly placed claims in a single case
Wraps and Portfolios for funders across the world as well as law firms, where we look to insure the entire book rather than an individual risk
Funders where our capital protection policy is specifically designed to protect the funder’s outlay in the event of a loss on a single case
International Arbitrations across the world, provided they are heard in a recognised arbitration centre
Schemes in the form of ATE for low value, high volume portfolio arrangements
FAQs
What cases are suitable for insurance?
Litigation insurance should be considered in all disputes where there is a financial exposure. It should also be considered in forums such as arbitration and tribunals
What criteria threshold needs to be met to obtain insurance cover?
Prospects needs to be at least 60% and it needs to be clear the opponent will be able to meet any award of damages and/or costs.
Can the litigant recover the cost of the product from an opponent?
Save for a few limited exceptions, this is not possible, and the cost must be borne by the policyholder from the proceeds in the litigation.
How can I go about securing litigation insurance cover?
Legal Representatives and/or your insurance broker should complete a proposal form and submit the same with a case summary and supporting documentation. This should include (where available) Counsels opinion, pleadings, party-party correspondence, and Expert’s reports.
At what point should cover be obtained?
Cases can be considered at any time, although most applications are made either at the outset of the litigation, or prior to proceedings commencing. Applications which have progressed further into the case are less likely to be accepted and may incur higher premiums.
Can cover be backdated?
In some circumstances, we can provide retrospective cover.
Who is the insurer?
Accelerant Insurance Europe SA is an insurance company authorised under code 3193 and regulated by the National Bank of Belgium and the Financial Services and Markets Authority. Company Identification Number: 0758.632.842. Registered office: Bastion Tower, Place du Champ de Mars 5, 1050 Brussels, Belgium. In the UK, Accelerant Insurance Europe SA is deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority.
What cover limits can you provide?
We can provide up to £4 million of adverse costs cover and £6m of cover in total.
Will you consider providing cover for a portfolio of cases?
Yes. please make an enquiry to discuss further.
If you have a question that hasn’t been answered, please get in contact with us and we will be sure to answer any questions you may have.