Contingent & Litigation Risk Insurance
Contingent & Litigation Risk Insurance
VALE provides complex risk solutions for identified contingent legal risks, including adverse judgment risks, appeal risks, adverse costs and other costs related risks, and portfolio risks, for various participants exposed to the risks of litigation or arbitration. VALE underwrites actual or potential disputes in jurisdictions worldwide, including the US, UK, Europe, and international arbitration forums, among others.
In this developing space, VALE takes a wide view of the market and provides a suite of contingent and litigation risk products:
Adverse Judgment Insurance
The product covers an actual or potential defendant in respect of an identified legal exposure. This may include liability risks, contractual disputes, title risks, fraudulent conveyance, permit risks, intellectual property risks, among other things. The exposure may have been identified as part of due diligence in a transaction or in seeking to wind up a fund or for some other reason.
Judgment Preservation Insurance
The product covers a claimant which has been successful at first instance against the loss of a judgment or award on appeal. Often the appeal may turn on alleged errors of law by the first instance court or tribunal, but appeals can also extend to alleged misapplication of the facts, irregularities in applying procedural rules and issues of jurisdiction and quantum.
ATE insurance
The product covers a party to litigation in a costs shifting jurisdiction from the risk of becoming liable for the other side’s costs. The risk of adverse costs may also arise where the parties have agreed by contract or by virtue of adopting certain arbitral rules of procedure that the loser in any dispute between them will be liable for the other party’s costs. ATE may also include cover for the insured’s own costs and disbursements in pursuing the dispute.
Portfolio Solutions
The product covers funds, law firms and corporates for exposures in litigation across a portfolio of cases. These are particularly complex products and provide risk transfer as well as more capital efficient structures for insureds.
Key Contacts:
Bryce Guingrich
Prior to joining VALE, Bryce practiced law in New York, litigating commercial matters and insurance coverage disputes for multiple coverage areas, including representations and warranties, directors & officers, fidelity and commercial crime bonds, and professional liability.
Before law school, Bryce worked as a broker of directors and officers coverage, employment and professional liability, corporate property insurance, and other miscellaneous lines in the U.S., London and European markets. He started his career as a civil engineer in Florida.
Bryce graduated with a B.S (Engineering) from Purdue University. He also received a J.D. from Rutgers University and an Intellectual Property LL.M. (Master of Laws) from Georgetown University.
Chief Underwriting Officer & President of Vale Americas
Bryce Guingrich
Prior to joining VALE, Bryce practiced law in New York,...
Steven Rajavinothan
Steven joined from Reynolds Porter Chamberlain LLP, where he was an associate in the Commercial and Financial Disputes practice. Prior to joining Reynolds Porter Chamberlain in 2017, Steven trained at Herbert Smith Freehills LLP, working in the firm’s London and Singapore offices. During his time in private practice, Steven advised on high profile litigation and international arbitration cases across sectors including energy, finance, litigation funding, mining and property management. Steven has a degree in Philosophy, Politics and Economics from the University of Warwick and is an experienced debater, having won multiple international debating tournaments.
Senior Director, Contingent & Litigation Risks & Head of ATE
Steven Rajavinothan
Steven joined from Reynolds Porter Chamberlain LLP, where he was...