WHAT IS LEGAL EXPENSES INSURANCE
Legal expenses insurance (LEI), also known as legal protection insurance (LPI) or simply legal insurance, is not Liability Insurance but is a type of insurance which covers policyholders against the potential costs of a legal action brought by or against the policyholder. It provides indemnity (protection) against any legal fees or costs and expenses of a lawyer (including disbursements such as expert opinion, reports and witness reports) for specific matters as set out in the LEI policy.
There are two main forms of LEI, before-the-event and after-the-event ("the event" being that event which triggers legal action). "After-the-event" legal expenses insurance is a misnomer, since insurance technically, can only indemnify against future unforeseen events. Most legal insurance plans are before-the-event, and "after the event" is not common in Canada.
Before-the-event (BTE) Insurance is taken out by those wishing to protect themselves against potential litigation costs that could be incurred following a potential future event. As mentioned these costs often include fees of solicitors, barristers and expert witnesses, court fines and fees, and any legal costs awarded to the other side. Before-the-event insurance premiums are generally paid on an annual basis to an insurance company. It is often sold as part of a package sometimes offered as a benefit to members of trade unions or associations, such as Medical or Dental Health Care Associations.
We are pleased to announce that Ai Legal Expenses Insurance is now available and as specialists in this sector, we can offer suitable solutions for ongoing or potential legal cases. These can be either personal or commercial in nature. We have a panel of experts that can consider the merits of each and offer legal opinions as to what course to follow for the best outcome.
AFTER THE EVENT
After-the-event (ATE) insurance is taken out after an event, such as an accident which has caused an injury, to insure the policyholder for disbursements, as well as any costs should they lose their case.
BEFORE THE EVENT
Before-the-event (BTE) Insurance is taken out by those wishing to protect themselves against potential litigation costs that could be incurred following a potential future event. As mentioned these costs often include fees of solicitors, barristers and expert witnesses, court fines and fees, and any legal costs awarded to the other side.
WHAT IS COVERED
Legal Expenses Insurance covers Legal Consultation, Designated Consultation, and Contract cover.
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