After the event insurance
From ACT Wiki
Law.
(ATE insurance).
After the event insurance protects litigants in respect of adverse costs awarded against them in the event that their claim is unsuccessful.
It is usually the responsibility of the unsuccessful party in litigation to have to pay a significant proportion of the winner’s costs, as well as their own.
In return for a premium, ATE insurance offers a safeguard against all or part of that risk.
