Who pays the After the Event Insurance Premium, and When?

A claimant purchases an ATE Insurance policy, but does not normally pay for it at that stage. Most ATE Insurance policies are instead payable at the end of a case - when it has been successfully concluded. Better still, ClaimSafe After the Event Insurance policies are payable only once the compensation has actually been paid by the defendant, so when a claimant comes to pay an ATE policy premium, he or she has already has the money.

How is the ATE Insurance Premium Structured?

Some After the Event Insurance policies require a single premium; others require increasing staged ATE premiums as a case progresses. The stages at which an ATE Insurance premium can increase are not legally prescribed - each ATE insurer is free to create their own ATE premium structure, although the issue of proceedings and the approach of trial are two common points at which a staged ATE Insurance premium may increase. In some cases, the final staged ATE premium is left open-ended, and assessed by the ATE insurer based on the risks which are apparent as trial approaches. ClaimSafe After the Event Insurance policies have the advantage of offering a whole range of pricing options including a single fixed ATE premium.

All ATE insurance policy premiums are subject to Insurance Premium Tax ("IPT”). This currently stands at 12%.

How is the ATE Insurance Premium Paid if a Personal Injury Claim is Unsuccessful?

It is normally part of the After the Event Insurance policy that the ATE Insurance premium does not need to be paid if the case is lost or abandoned, and this is true with all ClaimSafe ATE Insurance policies.