Here are 10 things that every litigant should know.
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Contract lawsuits are never a simple matter, nor are their outcomes ever a given.
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Certain contracts provide that, if a lawsuit arises out of the contract, the prevailing party in the litigation is entitled to recover their attorneys’ fees from the losing party. This is typically referred to as a “fee shifting” provision or a “prevailing party” provision.
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A fee shifting provision in a contract lawsuit can heighten a litigant’s financial exposure in the litigation.
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Contract Litigation Insurance (CLI) is a first-of-its-kind program specifically created to help protect plaintiffs and defendants from the risk of having to pay their adversary’s attorneys’ fees in contract disputes.
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Policies are underwritten by individual member companies of Zurich in North America, a leading global insurance carrier rated "A" by A.M. Best.*
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There is no way to know exactly how much your opposing party will spend on litigation. However, as a basic guideline, it is safe to assume that the opposing party will spend the same amount on legal fees as you.
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Sonoma Risk strongly recommends that a litigant seeking a CLI policy discuss with their counsel the amount of coverage that is needed.
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Sonoma Risk specializes in writing policies and handling claims for the attorneys’ fees that arise out of a contract lawsuit – from helping litigants determine the right amount of coverage they need to obtain, to processing claims in the most professional and expedient fashion.
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Sonoma Risk's Litigation Insurance Specialists provide CLI policyholders with personalized service throughout the life cycle of the policy.
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To schedule a consultation and learn more about Contract Litigation Insurance from Sonoma Risk Insurance Agency, locate an agent by entering your zip code in the box to the right.
Rating information is provided as of 8/4/2010. For information about the ratings of Zurich American Insurance Company, access the ratings section on www.zurichna.com. For more complete financial information about the Zurich Financial Services Group and ratings for Zurich Insurance Company Ltd., access www.zurich.com.
