Pursuant to Florida Rule of Professional Responsibility Rule 4-1.5, your lawyer will advance the costs of your case on your behalf.  You will be responsible to reimburse your lawyer for all reasonable costs spent in furtherance of your case in the event a recovery is made. Your lawyer may elect to purchase insurance which will reimburse your lawyer for the costs advanced on your behalf if your case goes to trial and the result is an adverse verdict ($0 result).  If your lawyer elects to purchase this litigation cost insurance, and there is a recovery made by you, your lawyer will include the premium for this litigation cost insurance in the Closing Statement as a reimbursable cost.  However, your lawyer will only include the cost for the premium of this litigation cost insurance in your Closing Statement as a reimbursable cost if, and only if, your lawyer:

  1. Determines that the insurance coverage serves your best interests;
  2. After consultation with you, you and your lawyer agree that the cost of the insurance is fair and reasonable; and
  3. You agree that your lawyer can include the cost of the premium for litigation cost insurance as a reimbursable cost in the Closing Statement.

By agreeing to allow your lawyer to purchase this litigation cost insurance and include the cost of the premium as a reimbursable expense in your Closing Statement, you acknowledge that your lawyer has fully explained: (a) what litigation cost insurance is; (b) why your lawyer believes that litigation cost insurance will serve your best interests; (c) that your lawyer is the beneficiary under the litigation cost insurance policy; (d) that you will be responsible to reimburse your lawyer for the cost of the premium in the event of a monetary recovery in your case; (e) that the existence or non-existence of litigation cost insurance will not adversely affect your lawyer’s independent professional judgment, the lawyer-client relationship, or your best interests; (f) that other lawyers may not find it necessary to purchase litigation cost insurance for your case; (g) that you will be provided a copy of an exemplar policy to review before the insurance is purchased; and (h) that while the Florida Bar permits your lawyer to include the premium for litigation cost insurance as a reimbursable expense on your Closing Statement, the Florida Bar has not endorsed litigation cost insurance.