From the September 2010 issue of Treasury & Risk magazine

Adversary Legal Fees Coverage

Worried that being on the losing side in contract litigation will mean paying not only damages, but also your adversary's legal bills? Property-casualty insurer Zurich North America is rolling out a policy, offered via Sonoma Risk Insurance, that shields a defendant in contract litigation from the risk of paying the opposing party's attorneys' fees if it loses in court. Zurich already offers similar coverage for plaintiffs.

Zurich argues that companies with such coverage might be more willing to defend claims and that the insurance will help companies do a better job of budgeting for litigation costs.

Comments

Advertisement. Closing in 15 seconds.