Have you been denied your insurance benefits? Are you afraid to take legal action against the at-fault party or insurance company? Until recently, most claimants with any assets, particularly those with a home, were fearful of taking action on the chance that the court will not find in their favour, leaving them open to the at-fault party/insurer obtaining judgment against them for the substantial costs of the trial.
A very exciting development has occurred which can take the fear out of litigation. Litigation insurance now exists, which if obtained at the onset of the case, will protect you from a cost award at trial should the Court not find in your favour. You do not pay for the insurance up front but rather agree that the cost of the insurance will come out of your settlement at the conclusion of your case. Should you lose your case there remains no cost to you for the insurance and the insurance policy kicks in to cover the costs against you. The provider of the Litigation Insurance assumes the risk from onset. It’s important to consult with an accident benefits lawyer as soon as possible to protect your rights.
Obtaining this insurance has multiple benefits. Firstly, you can sleep at night without fear of going to trial. Secondly, defence counsel are notorious for pointing out the potential risk of a cost award against you if your matter goes to trial, for the sole purpose of convincing you to settle for a lower amount than your case may be worth. Insurance companies have deep pockets, substantial funds to take cases to court. The concern of losing is much smaller to the insurance company. Unfortunately that is not the case for the innocent people who have been injured in an accident or denied their benefits. Litigation Insurance levels the playing field for you. It provides you clout to negotiate with and allays your fears. We strongly recommend if you are contemplating litigation to contemplate obtaining Litigation Insurance.
Disclaimer: The content of this article is a general guideline made available for educational purposes only and is not intended to be used as legal advice for the reader's specific situation nor in general. By reading our blog and website content, the reader acknowledges the above and understands there is no lawyer-client relationship created between you and Himelfarb Proszanski through this content. To get specific legal advice, we encourage you to book a free consultation with one of our lawyers to clarify the legal aspects of your situation.