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.