Contract Litigation Insurance
Contract Litigation Insurance
Reduces Financial Risk for Litigants
Contract litigation is a risky business. Trial outcomes for litigation involving contract disputes can be unpredictable and the proceedings are often complex. And just because you think you're right doesn't mean you're going to win. In fact, the Bureau of Justice Statistics has found that 33 percent of plaintiffs and 66 percent of defendants lose their contract disputes at trial.
More often than not, what starts as a clear-cut case is soon up for grabs, accompanied by mounting legal fees. The financial risk is only heightened when there's also the possibility of having to pay your adversary's attorneys' fees, should you lose the case. Contract Litigation Insurance (CLI) is a first-of-its-kind program, specifically designed to protect litigants from having to pay their adversary's attorneys' fees as a result of a fee shifting provision in a contract dispute. Underwritten by Zurich, an A+ A.M. Best carrier, CLI removes much of the uncertainty from litigation, allowing litigants to feel more secure about their risk, while supporting an attorney's desire and professional responsibility to protect clients from financial exposure.
Contract Litigation Insurance helps provide
- A reduced financial exposure in litigation
- Budget certainty
- A closure of a gap in a litigant's coverage
And because a CLI policy removes the threat of having to pay an adversary's attorneys' fees, the protection it offers becomes empowerment, allowing litigants to proceed with a case, as well as becoming a strategic asset in settlement.
For more information, please contact:
- Todd Miller:
- todmil@hmbd.com