Contract litigation expense insurance
By Kenneth T. Teglia
Insurance Law,
March 2013
When it comes to initiating litigation to settle written contract disputes, one major reason businesses and individuals have been reticent to do so is the specter of losing and being ordered by a court to pay the victorious attorney fees.
Contract litigation expense insurance
By Kenneth T. Teglia
Intellectual Property,
September 2012
Contract Litigation Insurance (CLI) allows individuals and businesses to insure a significant portion of the financial risk —having to pay the winners’ attorneys’ fees—that arises concomitantly with the initiation of contract dispute litigation. Plaintiffs and defendants can apply, even after the complaint is filed. Simpler than most other insurance, there is no complicated claims adjustment or issues interpreting coverage or exclusionary language—the court's official ruling activates policy coverage.
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