The use of flexible and risk-appropriate conditions and capacities, facilitates client-specific structuring of insurance cover
The requirements of companies operating internationally are taken into account when structuring the insurance solution
Unlike traditional Before the event (BTE) legal expenses insurance, After the event (ATE) insurance is only taken out when litigation has already arisen and not as a precaution. HDI Global Specialty SE offers the following legal expenses products:
ATE Insurance, as legal expenses insurance, is insurance which covers the legal costs and expenses involved in litigation. It can be used in any type of litigation and by either a claimant or a defendant, although in practice ATE Insurance is mainly used by claimants.
ATE Insurance policies normally cover the legal costs which a claimant must pay to a defendant when a claim is unsuccessful – when the claim is either lost at trial, or abandoned/settled after the defendant has incurred costs which the claimant is liable to pay -. Also the claimants own disbursements can be covered. Not that common, but also seen, is the insurance of own costs of the claimant. The overall concept of an ATE Insurance policy is that it will protect the claimant against costs risks.
ATE insurance is not only bought by individuals (e.g., to enable access to justice), companies also use this form of insurance to manage the level of exposure to legal expenses and disbursements that they wish to retain in the end if they lose a claim.
The ATE insurance model can also be chosen for class actions and being bought by law firms to insure the adverse costs risks on behalf of their clients or also their own cost risks.
BTE insurance products
Criminal legal expenses
Anyone in a position of responsibility can be in the line of fire. Criminal law risks are increasing from year to year. The number of investigations launched - particularly in the commercial law area - has increased significantly. This is primarily a consequence of numerous legislative changes, as well as a significant increase in compliance requirements, which have changed the responsibilities of managers considerably. With HDI criminal legal expenses cover, the policyholder is protected from the consequences of criminal prosecution from the outset.
Criminal legal expenses for the SME sector
HDI has specifically tailored criminal legal expenses cover to the requirements of small and medium-sized companies. This provides access to specific cover at attractive terms.
Civil legal expenses
All members of the management board and supervisory board are confronted with decisions on a daily basis, the consequences of which are not always entirely foreseeable. Claims for financial losses can arise. Protecting your legal interests can result in significant costs to the manager. Therefore, managers can insure against these risks with civil legal expenses cover.
Employment contract legal expenses
Members of the management board and supervisory board bear considerable responsibility and need to keep a cool head even when making quick decisions. In the event that an executive makes an incorrect decision that negatively affects the company financially, he/she may find their employment situation at risk. Employment contract legal expenses cover provides insurance in these circumstances, for judicial or out-of-court settling of disputes.
Corporate legal expenses (Plus)
Legal disputes with customers, authorities and employees cannot always be avoided. With HDI Corporate legal expenses cover, legal representation is ensured for the company for a range of potential disputes.
With HDI Corporate legal expenses cover Plus, clients get extended cover and additional insurance modules, such as corporate contract legal expenses cover for ancillary transactions, anti-discrimination legal expenses and extended criminal legal expenses cover.
Bundled corporate legal expenses (Plus)
This insurance cover solution provides extensive insurance by combining four products.
With bundled corporate legal expenses, legal representation is ensured for the company and financial risk is minimized. At the same time, the owner / managing director and their family is protected with private legal expenses cover. Furthermore, insurance includes legal expenses cover for a private home occupied by the owner / managing director, as well as any commercial property owned by the company. All vehicles that are registered to the company/owner are also insured.
With the bundled corporate legal expenses cover Plus, the company and the owner / managing director can rely on extended support in criminal prosecutions. Many other enhanced benefits in bundled corporate legal expenses cover Plus provide optimum all-round protection.
Fleet traffic legal expenses
For companies with fleets of 16 vehicles or more, fleet traffic legal expenses cover offers specific insurance for cars and trucks, as well as their owners, drivers and passengers. Protection is provided, for example, for the enforcement of claims for damages or disputes with the vehicle repair shop.
Legal expenses cover for fleet managers
The company maintains a fleet of vehicles – and the fleet manager bears huge responsibility as a result. In law, the fleet manager is regarded as the vehicle owner and can face claims in the event of driver misconduct. The fleet manager should avoid that risk by being properly insured.