opdu

Adverse Costs Insurance

The Managers of OPDU are pleased to report that a number of Trustee Boards have already expressed an interest in CAPIT adverse costs insurance, the after-the-event legal costs insurance offered by their sister company, Thomas Miller Litigation Management Limited (TOMLIM).

Redvers Cunningham, a director of TOMLIM, recommends that all trustees should consider purchasing this cover before embarking upon litigation against a third party. He told OPDU:

“Any Board of Trustees advised to pursue a claim for damages against a third party should obtain a quotation for adverse costs insurance, because with this cover they know that if they are ordered to pay costs to the other side, those costs will be met by underwriters, not the pension fund. Furthermore, if they win, the other side can be ordered to reimburse the trustees for the cost of the premium, making this cover a “win-win” solution.”

The insurance is designed for large commercial litigation, such as professional negligence claims against fund managers and consultants, with a minimum limit of cover of £100,000. The cover is backed by a plain English policy wording and supported by TOMLIM’s professional claims handling service.

For further information and a brochure, please contact Redvers Cunningham, Jonathan Bull or Marcia Adele.

Telephone: 020 7204 2531
Email: redvers.cunningham@thomasmiller.com or enquiries@OPDU.com