Commercial Legal Insurance
Protect your business with comprehensive commercial legal expenses insurance coverage.
Commercial Legal Insurance
Protect your business with comprehensive commercial legal expenses insurance coverage.
It’s a smart solution for businesses with multiple vehicles.
Despite your best efforts even the most prepared businesses can still find themselves suffering from the consequences of a legal dispute. The cost, time and resources allocated to dealing with litigation problems can have a huge impact on a business. Both the possible fines and legal costs, or time spent away from the office can leave businesses with a both a tarnished reputation and financial losses.
What is Commercial Legal Insurance?
Commercial Legal Expenses Cover provides businesses with access to legal advice over the phone and insurance coverage for legal costs and expenses. This coverage is applicable when a business encounters legal issues that fall within the scope of the policy, relating to its activities.
This type of cover can be obtained as part of a comprehensive package policy or as a standalone product. The indemnity limits offered by insurers typically range from £50,000 to £1,000,000, depending on the specific insurer.
You don't need to wait until renewal.
We can complete a full review of your insurance now. That means we'll find any problems and fix them straight away.
What’s protected with commercial legal insurance?
Different Legal Expenses Insurers offer varying levels of cover, but generally, it can include protection for the following situations:
- =Contract Disputes: This covers the costs associated with defending or pursuing legal action under a contract for the purchase, lease, hire, servicing, testing, maintenance, sale, or provision of goods or services. Debt recovery may also be included in some cases.
- =Personal Injury: This provides protection for pursuing legal rights after an insured person experiences bodily injury or death due to an event. However, it does not cover motor accidents.
- =Compensation Awards: Cover is available for specific compensation awards resulting from legal proceedings. Provided the compensation is awarded through a tribunal, the ACAS Arbitration scheme, or an insurer-approved settlement. Claims for compensation are accepted if they are deemed to be a legal cost and, there was a reasonable prospect of success throughout the claim.
- =Tax & VAT Protection: This includes coverage for legal fees or professional expenses related to representation in various tax and VAT-related circumstances. For example, Inland Revenue Investigations, VAT disputes, and disputes concerning compliance with PAYE, social security, and national insurance regulations.
- =Employment Disputes: The policy covers representation costs and basic or compensatory awards made against the insured in employment-related matters. For example, wrongful dismissal, discrimination, harassment, and failure to promote or employ.
- =Property Protection: This covers disputes concerning property possession, tenancy agreements, and damage to the insured's property.
It’s important to note that the information provided is a general overview, and coverage can vary significantly based on the policies offered by different insurers. To ensure that the policy meets your specific requirements, it’s important to talk your options through with us, as your broker.
We use a range of insurers and tailor the cover to meet our clients needs. We review this each year to ensure that cover remains effective and costs remain competitive.
What’s not covered with a Commercial Legal Expenses Policy?
Commercial Legal Expenses Insurance provides valuable coverage for various legal costs and expenses incurred by businesses. However, it’s essential to understand the policy exclusions, to ensure you have a comprehensive understanding of what may not be covered. Here are some common examples of what may be excluded from Commercial Legal Expenses Insurance:
- =Pre-existing legal disputes: Claims or disputes that were already in progress or, anticipated before the policy inception date may not be covered.
- =Criminal activities: Costs related to criminal acts committed by the insured or intentional illegal activities are typically excluded.
- =Certain types of legal matters: Some policies may exclude coverage for specific legal matters, such as divorce, child custody, and personal injury claims.
- =Employment-related claims: Claims related to employment disputes, such as wrongful termination, discrimination, or harassment may be excluded. Separate employment practices liability insurance may be necessary.
- =Intellectual property disputes: Intellectual property-related claims, including copyright, trademark, or patent infringement, may not be covered.
- =Fines and penalties: Legal expenses arising from fines, penalties, or punitive damages imposed by regulatory or governmental authorities are often excluded.
- =Claims under a certain threshold: Some policies may have a minimum threshold for claim amounts. Expenses falling below that threshold may not be covered.
- =Known events or circumstances: If you were aware of a potential legal issue before obtaining the insurance, it may not be covered.
Remember that specific policy terms and exclusions may vary among insurance providers. Carefully review your policy documents and consult with us to understand the coverage details and any limitations or exclusions specific to your policy.
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Useful Commercial Legal Expenses Resources
Commercial Legal Expenses Overview
Explore our comprehensive Commercial Legal Expenses Cover Overview document to gain a thorough understanding of the tailored protection we offer.