Insolvency and bankruptcy
Insolvency and Bankruptcy
At Prosperity Insurance, we are able to offer tailored after the event ATE insurance policies for insolvency and bankruptcy cases being progressed by insolvency practitioners (IP’s) and the solicitors they instruct.
Prosperity understand that the insolvency practitioners’ duty is to maximise the return to creditors. As a result of this duty, any legal action that is taken to recover monies must be undertaken limiting the potential costs.
This can mean that even if legal action has already been commenced, as is quite often the case, insolvency practitioners are put off by the fear of what an ATE insurance policy may cost, and therefore be due to come out of the estates’ remaining funds when the case is settled.
Here at Prosperity Insurance, the experienced business development team, underwriters and solicitors, understand this and are able to assess the risks associated with potential litigation and in many cases can arrange after the event ATE indemnity insurance.
Each case is considered on its own specific merits and is individually assessed. We aim to give a decision in principle within three working days from receipt of a completed proposal form.
We are also able to offer a staged approach to the after the event ATE insurance provision premium structure which will be in line with the relevant stages of the cases litigation process. Furthermore, we take a pragmatic approach, if and when a settlement is achieved. All premiums are deferred and contingent upon success.
If you are a lawyer and the insolvency practitioner instructing you has a case that they would like you to pursue on their behalf, you need to talk to us. We can help to find for you an after the event insurance solution that will help to meet your clients’ needs.
If your practice is seeking a fast, simple, online facility with competitive premiums you should contact us. If you require a quotation for a policy of this type please complete the form below.
Contact Prosperity Insurance Today
Talk to an Expert Today – Enquire Below or Call on 0800 524 4235
Other Services
Conveyancing Indemnities
As an experienced provider of assisting lawyers and their clients regarding ATE insurance, we are well aware that the profession also has a need for other client-facing legal indemnities. One of the most frequent requests we get from solicitors is for legal indemnities for conveyancing transactions.
Executor Liability Insurance
An Executor Liability Insurance policy ensures that should a claim be brought against the Estate that your client’s legal costs will be insured (subject to the policy Terms and Conditions).
