In certain jurisdictions, an adverse outcome can expose the claimant to an order to pay opponents costs. Harbour gives unique access to an A-rated panel of insurers who will protect against this eventuality by providing a bespoke insurance policy that pays out should adverse costs be awarded. Such a policy is known as “After the Event Insurance” or “ATE”.
Harbour enables access to its insurance panel with cover being organised quickly and at advantageous rates. When the Harbour Funds are also investing in the claim, the premium for the insurance is included in the costs that are funded.
I think it's an incredibly useful tool. Properly used and explained, litigation funding is amazingly attractive to clients. The future of litigation lies in funded cases.