Legal Expenses Insurance
Do I need it?
It’s an unfortunate fact, that due to both the frequency and costs of litigation increasing, many businesses and private individuals are looking for the most cost-effective ways to protect themselves. The key question to ask yourself is “could I afford the extensive costs of a legal dispute?”. As we see in the news every day, legal disputes can be costly and stressful to pursue or defend. Indeed, many people are deterred from taking legal action because they worry about the financial risk, the time involved and also the uncertainty of the outcome. This is where legal expenses insurance can help. What is it?
Legal expenses insurance is an insurance policy that offers protection against professional legal expenses incurred in connection with a variety of circumstances including employment disputes, tax and VAT investigations. It also includes access to a legal advice helpline. This insurance covers the legal costs involved in pursuing or defending a claim. Legal costs also include the appointment of solicitors, barristers and expert witnesses. The policy covers:
The cost of legal expenses relating to: Contract
Contract disputes with customers and suppliers relating to contracts for the sale, hire or supply of goods or services. Employment
The defence of disputes with employees, prospective employees or ex-employees concerning their contract of employment, or any employment related legislation (excluding TUPE) and also indemnity for awards of compensation. Criminal Prosecution Defence
The defence of criminal appeals and prosecutions against improvement notices under legislation such as the Health and Safety at Work Act or Food Safety Act. Property Legal Protection
The pursuit or defence of disputes over the possession of freehold and/or leasehold property, and also disputes concerning nuisance, damage or negligence by a third party. Data Protection Act
The pursuit or defence of claims arising out of an appeal or application under the Data Protection Act and also payment of compensatory awards made against your company under the Act. Tax and VAT investigation
Expert representation for your business in the event of a VAT tribunal, tax investigation, or PAYE investigation. Statutory Licence
The suspension, revocation, imposed alteration of, or refusal to, renew a certificate of registration or licence issued under statute or by local authority or government. What should I do now?
Because of our wealth of experience in providing Legal Expenses advice to our clients over many years, we are able to offer individually tailored products and services for a range of situations. For an informal discussion please call us on 01325 353 888 and we will be happy to discuss this further. Alternatively please email us at webenq@bibinsurance.co.uk.
