Acasta launches New Delegated Authority Commercial ATE Product
Acasta have recently launched a brand new Delegated Authority Commercial ATE product which we are intending to target at the regional law firm marketplace.
Many Commercial law firms struggle with the concept of ATE Insurance and what the benefits of insuring the case for ATE as early as possible are, as opposed to waiting until usually proceedings need to be issued.
Acasta’s new delegated authority product goes some way in helping to address this, as we will provide our stage 1 cover (of 4 stages) without the need for an upfront individual case assessment with cover being provided for disbursements up to a limit of indemnity of £3000 for a premium of only £150 plus IPT which is fully deferred and also contingent upon the case’s success.
The cover is to be arranged at the retainer stage of discussions / agreement with the client once prospects have been initially assessed and the solicitor should be on at least a partial CFA. There is a 50% excess in place, but if by way of example, an expert’s report has been obtained at the cost to the client of £1500 and the case then turns into a non-runner, then Acasta will share 50% of the cost of this with the client (£750).
If cases move forward, they would then be individually assessed by Acasta before proceedings were issued and moved on accordingly with a higher limit of indemnity then being provided and the cover then also extending to include adverse costs.
To enquire further about this new product, please contact our Northern Solicitor Business Development Manager Andrew Williams on 07739 169 779 or via email – firstname.lastname@example.org
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