Many business contracts include “fee-shifting” provisions which require the losing party in any breach of contract litigation to pay attorneys fees incurred by the prevailing party.
The financial risk of being liable for attorneys fees if a breach of contract claim fails can be a disincentive to filing claims to enforce your contact rights.
But a new and innovative form of insurance coverage – Contract Litigation Insurance (CLI) – addresses this issue. Policies offered by Zurich companies in North America can be applied for within the first sixty (60) days after filing a lawsuit, or within sixty (60) days of service for defendants being sued.
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