What we do
Contingent
About
On a case-by-case basis Alpha TR is able to offer cover for identified legal risks, e.g. in a financial services context, often alongside our Tax insurance product for closely related identified risks.
Appetite
We specialise in private capital transactions, especially within the following parameters:
Limit
Alpha TR can offer policies covering up to £20m per risk. We do not apply a minimum.
Geographies
Alpha TR's team have a diverse international track record (>50 jurisdictions insured) with particular expertise in Europe, MEA, and APAC. No geography is excluded from our appetite save for: Afghanistan, Belarus, Cuba, Iran, Myanmar, North Korea, Russia, Syria, Venezuela, and any jurisdiction which is subject to UK, EU, or US sanctions. Alpha TR has no appetite for risks where the underlying legal risk is under US law.
Process
Each Contingent risk is unique and so the process will vary on a case-by-case basis. The following steps are common to all projects:
- Submission: Alpha TR carries out a detailed review of the documentation received from the broker to assess insurability. A non-binding quote or a declinature should usually be issued within 48 hours of receipt of the submission. A quote will typically remain valid for 30 days.
- Expense Agreement: Prior to commencing underwriting, Alpha TR will either issue an expense agreement whereby the prospective insured contractually commits to cover Alpha TR's external advisory costs, or invoice for such costs up-front. All transactions are underwritten by Alpha TR, but external advisers are instructed on each deal.
- Underwriting: Alpha TR will raise underwriting questions, including document requests, to assess the risk and build a defence file (if required).
- Policy: We will draft a policy reflecting the coverage offered in the NBI, although this may be amended to reflect underwriting or where an NBI assumption is not correct.
- Timing: The underwriting process can be completed in five business days from receipt of all relevant information provided that Alpha TR receives prompt, high quality responses to Q&A.
See how a contingent risk claim is handled on our Claims page.