Hertfordshire-based legal expenses provider Victory has launched a protection product called BusinessSafe which is aimed at the small business market.
It provides cover for most eventualities such as unfair and wrongful dismissal, equal pay, pension and redundancy rights.
It also pays for the cost of defending a prosecution for an offence related to normal business duties, civil proceedings brought under the Data Protection Act, the costs of a tax, PAYE, and VAT investigation and expenses incurred in the pursuit of legal rights of premises.
In addition, there is cover for any disputes over the quality of goods or services sold or supplied by the business.
Professional fees up to £50,000 are covered and a 24-hour helpline staffed by lawyers and other professional advisers will give confidential guidance and counselling.
Premium rates are based upon a client's turnover. For those with a turnover of less than £500,000 the premium is £125 per annum, £175 for those above £500,000 but under £1,000,000 and bespoke quotations for larger turnovers.