We provide strategies that enable law firms to manage their exposure on portfolios of litigation on which they are sharing the risk of a successful outcome with their clients.
Our approach is to work closely together to model relevant data and then use an adverse outcome insurance that can indemnify opponent AND/OR costs incurred by the law firm on a contingent basis across a defined portfolio of cases:
The limit of indemnity will cover a maximum amount to be paid over the policy term and will be written down if any claims are paid.
Each claim made under the policy will be subject to a deductible i.e. a defined percentage of the claim will be borne by the insured
Should a case in the portfolio be lost at trial, legal fees and disbursements up to limit of indemnity (adjusted for any prior claims) will be reimbursed minus the deductible.
Premiums will reflect the outcome of our modelling of portfolio risk, law firm track record and the removal of possible adverse selection.
The QLCC strategy can ensure that the law firm has significantly less money at risk on a portfolio of contingent fee litigation.
“QLCC” and “Quantum Legal Costs Cover” are trading names of Harbour Underwriting Limited.
Harbour Underwriting Limited is an appointed representative of Bennett Gould & Partners (Dorset) Limited which is authorised and regulated by the Financial Conduct Authority.
Harbour Underwriting Limited. Registered Office: 4th Floor, 8 Waterloo Place, London, SW1Y 4BE.
Registered in England & Wales No. 10384185