16 August 2018

BSB Handbook Explained: New Guidance on After the Event Insurance

We have recently published new guidance on after the event (ATE) insurance, which is available on our website. The guidance is for BSB entities and self-employed barristers who wish to recommend and arrange ATE insurance policies for clients, which will cover the legal costs and expenses involved in litigation.

Recommending and arranging an ATE insurance policy is a regulated activity under the Financial Services and Markets Act 2000. Any person undertaking a regulated activity must be authorised to do so.

The guidance explains:

  • how BSB entities and self-employed barristers can become authorised to recommend and arrange ATE insurance policies;
  • the conditions this may be subject to;
  • that BSB entities and self-employed barristers must still comply with the BSB Handbook when recommending and arranging ATE insurance policies; and
  • the professional indemnity insurance requirements.