Up to £50,000 legal cover provided
Composite Legal Expenses and on-line intermediary, Insured Risks, have launched a new legal expenses product for the SME market.
The Insured Risks Business Care scheme provides up to £50,000 for legal costs and professional fees and is supported by a 24/365 legal advice line.
Insured Risks’ Managing Director, Paul Brock, said:“With legal expenses insurance being a necessity for any business, we wanted a product that would work well for our commercial client base, many of whom are smaller companies or self-employed. However, the traditional rating approach to this type of insurance meant that the premiums were often just unaffordable for these smaller clients.
Composite’s Business Development Manager, Tim Mullin, added: “We were delighted to come up with a solution for Insured Risks by turning the traditional legal expenses rating method on its head and instead based premiums as a percentage of the commercial insurance premiums. As they say – the proof of the pudding is in the eating – and
Mullin said that the product had attracted a "steady stream of business" since it was rolled out.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
