Introducing Annecto Legal Assistance – a good deal for Brokers and clients
Working in conjunction with existing liability and traditional BTE policies, Annecto Legal Assistance fills the gaps when your clients need access to the best legal advice, on any business issue; it removes financial uncertainties and the need for balance sheet protection against unforeseen major uninsured legal expenses at low cost.
Unexpected legal issues hit your clients hard, and the time it takes to find the right advice together with costly legal fees impacts their cash-flow.
For a low, fixed-fee annual subscription, Annecto Legal Assistance provides your client with access to specialist legal advice – 24/7, 365 days-a-year – across ALL business services, allowing them to make informed decisions and plan effectively, and with no costly surprises.
Broker benefits of Annecto Legal Assistance
Have you experienced the frustrations and limitations of the traditional legal expenses response regime?
Annecto Legal Assistance enhances existing legal expenses cover with a comprehensive 24/7, 365 days-a-year Legal helpline for your clients for any business issue, whether insured or not.
Now you can satisfy your clients’ need for urgent, positive advice and have confidence that your clients are in safe hands
Benefits of Annecto Legal Assistance include:
- Immediate Agency terms and no minimum volume commitment
- Provided to you at net rates based on business turnover and insurance spend, allowing you to include a fee
- Straightforward broker quotation authority based on annual turnover
- Three price bands and simple self-administration procedures
Scheme benefits of Annecto Legal Assistance:
- 24/7, 365 days-a-year legal advisory service delivered by professional legal call handlers
- Advice and guidance on all areas of law to the business and its owners
- No limit on the number of times the telephone helpline service can be used, subject to fair use
- Free initial advice to establish the legal issues and the best way forwards
- Pursue or defend all types of legal disputes
- Complimentary to traditional BTE legal expenses policy – we will liaise on behalf of the client with insurers
- Guidance will be provided in all instances, meaning your client will receive help on matters not covered by
restrictive insurance policies
Client benefits of Annecto Legal Assistance:
- One low annual fee provides access to a complete legal team
- One telephone number or email provides the gateway to advice on any legal issue
- Operates in conjunction with existing BTE legal expenses, whilst taking away the hassle of dealing with insurer
- Frees up business capital by protecting balance sheet when pursuing business disputes
- Covers the legal issues that aren’t covered by existing policies
- Can be extended to employees as a low-cost employee benefit option (Excluding employment advice of course!)
Interested in Annecto Legal Assistance?
If you would like a no obligation discussion about Annecto Legal Assistance then get in touch through our dedicated Annecto Legal Assistance contact page.
More information on Annecto Legal Assistance
Annecto Legal Assistance - Information for a Broker
Download Annecto Legal Assistance - Information for a Broker (60.2 KiB)
What problems does litigation cause for commercial insurance brokers?
As a commercial insurance broker, litigation can be a tricky business for your clients. It’s seldom financially viable for companies to buy insurance for actions they may wish to bring in future – so legal expenses policies typically cover your clients in the event of a claim being brought against them (and not the reverse). It can be a difficult conversation to have to tell clients that their insurance policy portfolio can’t assist in their pursuit of justice.
For a client to fund legal action themselves, they will need to invest a considerable amount of money in the process: solicitor’s costs, barrister’s fees, expert witnesses, and court fees can add up to tens of thousands of pounds, or more. Even if they can afford it, firms could inevitably put this money to better use within their business – and there is no guarantee of success. With these pressures it is no surprise that to many of your clients it often seems easier to under-settle or to give up on a claim entirely.
What options are available for commercial insurance brokers seeking to add value to their client relationships?
If the policies you have provided your client can’t help them pursue a legal claim, there is an alternative; litigation funding and case specific insurance. For a pre-agreed fixed percentage of the eventual damages, a litigation funder will take on the risk and costs related to the case – giving your clients the chance to seek the redress they deserve. Furthermore, staged funding agreements, depending on the point at which a case settles, will maximise their returns – these can range from 5% when a matter settles quickly up to 35% if it goes all the way to trial.
As a broker, the principal advantages of introducing your clients to litigation funding and insurance are clear. By incorporating them into the advice to your clients, into your policies, it provides the opportunity to strengthen your relationship with them as ‘trusted advisor’.
Why Annecto Legal?
Annecto Legal’s network of legal experts and access to a multiple providers of litigation funding and insurance make it an excellent choice for your clients’ alternative funding needs. Our Board are well-versed in the needs and priorities of commercial insurance brokers, and can assist in developing specific ‘white-labelled’ litigation assistance products for your clients.
Annecto Legal is happy to receive enquiries from commercial insurance brokers acting on behalf of their clients. Talk to us today to explore their alternative finance options.
Annecto Legal SME Research
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Litigation Protection and Funding - Initial Enquiry
Enquire about litigation protection and funding by downloading the document below.
Download Litigation Protection and Funding - Initial Enquiry (204.1 KiB)