CP 99 14 Condition-Litigation Funding Mutual Disclosure

“If we and you do not agree whether or to what extent a claim or suit is covered by this Coverage Part or Policy”

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What triggers a disclosure demand. On a property policy the insured is usually the one making the claim, so the disagreement this condition covers is between the insurer and the named insured over the insured's own loss. Either side can start it with a written demand.

“each party will disclose in writing within 30 days whether they or their attorney(s) have executed any "third-party litigation funding agreement(s)"”

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What each side must say within 30 days. The answer is due whether or not a funding agreement exists, and it covers agreements signed by the party's attorneys as well as by the party itself.

“required to approve of or be consulted on litigation or settlement decisions”

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What a funded party must hand over. A party with a funding agreement must provide a copy of it, name each person or organization that entered into it, state whether the funder can approve or must be consulted on litigation or settlement decisions, and describe the funder's financial interest.

“a copy of any update of their written disclosure within 30 days of”

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When updates are due. After the first disclosure, each side owes the other an update within 30 days of any change in the disclosed information, or of signing a new funding agreement after the demand.

“repay the funding and/or pay any applicable consideration, contingent upon the outcome of the specified legal matter”

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What counts as a litigation funding agreement. The defined term reaches any funding provided to a party or its attorneys for a matter, or a portfolio of matters, where repayment or other consideration depends on the outcome. Funding that must be repaid regardless of the result is outside the definition.