The additional service, provided in conjunction with Allianz Legal Protection, will assist SME policyholders with their potential contract and professional negligence disputes.
Businesses will have access a free legal assessment of their dispute by solicitors and, if a solicitor agrees to take on the case, they will act on a ‘no win, no fee’ basis.
Business owners will also be offered ‘after the event’ legal expenses insurance to cover the costs of disbursements and the risk of paying a defendant’s costs should the case be unsuccessful. At present, the risk of litigation can be borne by the solicitor and Allianz Legal Protection.
Peter Dobie, Allianz Legal Protection, commented: “Where the customer has a valid case and is concerned about the potential costs involved in litigation, this service can mean the difference between just surviving and thriving. It’s during economic times like these that legal expenses cover can show how vital it is to businesses.
“Firms can make well-informed decisions about whether to take legal action, confident that they have a knowledgeable professional team behind them, leaving them to continue the important job of running their business without disruption.”
David Martin, head of SME, affinity and broker markets, Allianz Commercial added: “Providing ATE cover to our SME policies supports our wider commitment of adding value for our customers and continually strengthening our own proposition. This unique service will provide SMEs with the confidence to make important commercial decisions in the knowledge that they are covered by an insurer of financial strength and security making us a trusted partner for our customers.”