Legal Expenses Insurance is a class of business provided by IGI. We have a dedicated class underwriter responsible for the development of this class of business, with many years of experience in this field.
We are able to write risks for both Before the Event (BTE) and After the Event (ATE) Legal Expenses Insurance. BTE insurance is written just like other traditional insurances, covering unforeseen events that can occur from time to time. ATE is insurance covering a known event that has occurred and the exposures a client can face to legal costs when contemplating any form of legal action against a third party.
Our target business area are commercial risks, covering the legal exposures that they can face in their day to day business activities.
Business can be written on direct placements, through coverholders, line slips or as a reinsurance.
IGI has capacity to write Legal Expenses risks up to GBP 5m/ EUR 7.5m/ USD 7.5m
Worldwide, excluding the USA unless incidental.
Main classes include but not limited to:
- Commercial risks – BTE primarily for Small and Medium size Enterprises (SME)
- Commercial litigation – ATE for clients involved in a known litigation
- Intellectual property risks – BTE where the client owns intellectual property rights such as patents, trademarks, copyright, design rights etc
- Tax investigations/audits – BTE for clients of accountant firms
- Regulatory/Loss of licence – BTE for professional regulated entities
- Bespoke risks – BTE for a specific/unique area of exposure
- A telephone legal helpline can be provided as an additional benefit and service to clients on BTE risks.