Ironshore Insurance Ltd., Singapore Branch, has introduced a specialty professional lines product that offers protection for after-the-event legal expenses to mitigate commercial litigation loss exposure.
Ironshore’s after-the-event legal expenses product provides insurance against adverse costs awards in commercial litigation. The coverage, which is standardized within the U.K. legal community, has been adapted specifically for the Singapore insurance markets in response to client demand.
Senior Underwriter Benn Wilson in Singapore will oversee product development and distribution in the Singapore markets in collaboration with David White, director of Professional Lines.
“Ironshore’s professional lines product has been well received throughout the U.K and Australia regions to protect against litigation losses impacting representative law firms and commercial litigants,” stated White.
“Our experience in this specialty space reveals that the legal expense cover is particularly beneficial to insolvency practitioners or other litigants to mitigate against the potential risk of significant financial losses from adverse costs awards,” he added.
Source: Ironshore
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