Litica has received approval from Lloyd’s to extend its coverholder status to Europe, in addition to its existing authorisation in the UK and Asia-Pacific.
This approval grants Litica Europe full delegated authority to underwrite commercial litigation insurance on behalf of certain Lloyd’s Syndicates.
With this authorisation, Litica Europe is now permitted to underwrite policies with adverse costs limits of up to €15 million. This represents one of the highest levels of authority granted by Lloyd’s syndicates in the commercial litigation insurance sector.
The approval comes as Litica has now underwritten over €2.2 billion of risk in under six years, covering a range of litigation and arbitration risks. It now has further expansion in its sights.
The development allows Litica to create insurance products tailored to the European market. Additionally, the increased underwriting capacity provides lawyers with access to higher coverage limits for litigation insurance.
Litica said it remains focused on providing an efficient service supported by Lloyd’s financial strength. The company sees this expansion as part of its broader mission to offer solutions for litigation and arbitration risks.
Founded in 2019, Litica is led by qualified lawyers and financial services professionals Stephen Bolster and Steve Ruffle. The company specialises in litigation insurance, working with claimants, litigation funders, in-house counsel, and law firms.
Litica’s in-house legal team includes underwriters with experience in law firms and international litigation funding. The company has insured a range of cases, from defamation disputes valued at €25,000 to multi-billion-euro class actions.
In 2024, Litica was ranked “Band 1 – Litigation Insurance Underwriters” in the UK and Australia by Chambers and Partners. Steve Ruffle, Stephen Bolster, and Ed Yell were also individually ranked in the same category.
Razi Mireskandari, managing partner and head of dispute resolution at Simons Muirhead & Burton, serves as Litica’s non-executive director.
Litica has secured backing from a large panel of insurers, including Lloyd’s markets, and is authorised to underwrite policies globally. The company currently operates offices in London, Cologne, and Sydney, with further expansion planned in 2025.
