Legal guidance
Finding the right legal expenses insurer is important, but many brokers may not know where to start looking or what questions to ask, and many more have turned their backs on it all together following some notable disasters. Richard Finan offers brokers his top ten tips
Brokers and intermediaries could be forgiven for turning their backs on the legal costs/legal expenses sector. The failure of some of the highest profile after-the-event (ATE) companies, the so-called 'claims farmers,' has burnt the fingers of established sector underwriters, leading to their departure from the market. This reduction in UK capacity has been exasperated by the exit of well-securitised capital backing legal costs insurance ventures. In its place inexperienced offshore providers
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