Annual Coverage, Contractual Coverage, Statutory Coverage (Under Some Statutes), And Multiple/Possible Exposure Coverage Available.
Because most standard insurance policies do not cover adverse attorney’s fees awards, we have informed you over the last few years about a suite of litigation insurance policies designed to protect plaintiffs and defendants from the risk of having to pay their adversary’s attorney’s fees in litigation, in arbitration, and before a regulatory body. The products are carried by Sonora Risk Insurance Agency.
Sonoma Risk has now expanded its Attorneys’ Fees Risk Insurance (AFRI) suite of products, which initially covered only contract disputes (Contract Litigation Insurance or CLI), to also include these products: Annual Attorney’s Fees Edge (AAFE) – insurance coverage for fee awards with coverage limits beginning at $10,000 and going up to $100,000 to cover situations even before litigation is commenced on an annual basis; Statutory Attorneys’ Fees Edge (SAFE)—coverage for the risk of paying an opponent’s attorney’s fees arising out of many federal or state statutes; and Court Awarded Annual Attorneys’ Fees Edge (CAFE)—coverage for the risk of paying fees where there are multiple exposures of paying an adversary’s attorney’s fees or where the exposure of loser pays is a possibility, but not yet clearly identified.
It looks like the venues being covered has expanded, too: state court; federal court; cases filed in arbitration; and cases before a regulatory body.
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