Posted by Steve Rowley, business development manager at Legal Futures Associate Allianz Legal Protection 
Last week’s Cheltenham Festival was the highlight of the jump season calendar and it got me thinking. If the horses running in the Gold Cup were in fact after-the-event insurance providers and all the punters in the stands were law firms, which ‘horse’ is the most likely to come out on top?
The Favourite – a thoroughbred whose expertise in the market provides firms and their customers with confidence that claim payments will, and can be met, without compromise or negotiation.
First out of the gate – a quick starter who is unable to last the course, quickly finding out that its pricing models are flawed.
Free Rein – the beast is allowed to run without any governance or controls in place.
A Non-Runner – They are on the race card but not actually in the race.
Blinkered – convinced that their race plan is a winner to the extent that they refuse to pay any attention to the needs of the customer.
Heavy going – soft muddy conditions which make it hard for the law firm to do business with their ATE provider, resulting in progress and claims payments being slow and/or constantly challenged.
Saddled – ATE providers who don’t control their own capital have additional heavy objects on their back by having to make a return for their underwriter, as well as themselves.
Spurred on – ATE providers who use any means possible to encourage firms to place business
As ATE providers and insurers all jockey for position to try and get themselves into an advantageous place in the field, it is important that law firms assess the odds and review the form before placing a bet with their hard earned money and reputation.