• Home »
  • Big stories »
  • Litigation funder helps after the event insurance sector

20 November 2015 at 09:01 BST

Litigation funder helps after the event insurance sector

Some 20% of funding from a leading litigation funder is going on after the event insurance with many of the cases being funded being brought against lawyers.

Augusta Ventures has done an analysis of where its £12.8m of funding has gone on the 56 cases it has financed up to October this year since it started doing business in 2014. Its analysis shows that barristers are the top recipients of the funding. Some ’32% [of funding] has been for counsel, followed by solicitors (27%), disbursements (21%) and after-the-event insurance (20%)’.

Professional negligence

Solicitors are very clearly the main people on the receiving end of claims. Augusta says: ‘Of the 32% (or 18 cases) that are professional negligence claims, 56% (or 10) are against solicitors. No other category of litigation registered more than 4% of the total.’

Opponent costs

After the event insurance primarily covers opponents’ costs and it is also used to pay for disbursements made by the insured. Source: Augusta 

 
   
 
 
 

Also read...

Exxon challenges suit dismissal claiming allegations are political

Exxon is appealing against dismissal of case in which the oil giant claims federal investigation is retaliation on oil giant's climate change views.