Many people are deterred from taking legal action because of the financial risk and uncertainty of the outcome. For your business this is where Legal Expenses Insurance (LEI) can help.
Legal disputes are often costly and stressful to pursue or defend.
Some insurance products offer limited legal expenses cover under their packaged policies, some others offer none at all. Here at McCarthy Insurance Group, we designed Complete Business Legal Expenses, which not alone gives serious extra covers but also provides all MIG customers with the same high-level protection.
Unlike conventional insurance, LEI does not make a direct payment for a claim. Instead, the insurance covers the legal costs involved in pursuing or defending a claim. These legal costs include the appointment of solicitors, barristers, and expert witnesses. In many cases, the LEI provider manages the claim from start to finish.
Commercial legal expenses insurance policies that protect against the cost of potential commercial legal disputes, provide the legal advice and representation businesses need to minimize their exposure to these risks.
Why Consider Complete Business Legal Expenses Insurance?
Employment law and the fear of a claim from an employee, ex-employee or even potential employee is the driving force behind many companies’ need for commercial legal expenses insurance. Legislation like the new Employment Equality Act 2004 and other recent legislation introducing new rights for part-time workers, parental and maternity leave, have increased employee rights.
The Working Time Regulations and The Minimum Wage Act have also increased employee rights. These acts are causing employers to check and in many cases, amend their policies and procedures to remain within the law. Keeping up to date often requires the help of a lawyer. This is exactly where the benefits of legal protection policies kick in.
Providing legal advice through an e-mail or telephone helpline service enables the policyholder to obtain up to date information on the law and how it affects their individual circumstances in the easiest way possible. The lawyers providing this advice will explain what action a policyholder can or should take under the law to pursue their case or to comply with requirements under the new legislation.
Legal advice is often the first point of contact a policyholder has with their insurer before making a claim. Should a mistake be made and a claim is brought to an Employment Tribunal, uninsured firms will probably face a legal bill of several thousand euro. Without legal expenses insurance, winning their case will be of limited relief as, regardless of the outcome, costs are not recoverable under the tribunal system.
For just €65 per annum, you basically have ‘a solicitor and Business Consultant in your pocket’, 24/7/365. An expert is only a call away.
We have a panel of expert solicitors all over Ireland and the UK, and indeed Europe, to advise and assist you when you need them most. The service is strictly confidential and brochures are available in any of our 11 offices, or by contacting us directly today.
The Numbers Speak For Themselves
customers throughout Ireland
product providers offering a nationwide service
friendly, experienced staff here to help you
emergency assistance for when you’re stuck
A Nationwide Network of Branches
You can talk to a member of our expert team Monday – Friday, 9am-5pm