![]() ![]() For either parties, entering into a private insurance contract may help to shift these risks to a risk-neutral risk bearer. For the defendant, similar risks apply and the award of the claim itself is an additional risk. ![]() For the claimant, such cost may include attorney fees, court fees, possibly a counterclaim for adverse costs in case the claim is dismissed, Footnote 1 and other costs. So, risk averse claimants and defendants may have reasons to look elsewhere – either in advance or as the case arises – for someone willing to bear the financial risks involved. ![]() A decision to lodge a claim in court or to defend against a claim, is a decision made under uncertainty: the costs are uncertain, and the outcome is uncertain. ![]()
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