Legal Expense Insurance

legal

What Is Construction Insurance?

Engaging the services of a lawyer may be scary and costly. Where do you begin?

When a small company owner pays $500 per hour for legal counsel, he or she may rapidly find oneself forced to choose between debt and no representation at all. This is a situation in which legal expenditure insurance may be beneficial.

What is Legal Expense Insurance and How Does It Work?

Legal Expense coverage includes both free access to legal counsel from an expert lawyer on a set of common business themes and the expense of retaining a lawyer to handle a particular set of common difficulties.

What is covered by Legal Expenses?

Tax Protection

Legal representation if you are audited or seek to appeal a Canada Revenue Agency decision (CRA).

Statutory License Protection

Legal assistance in the event that your licence to do business is suspended, altered, or cancelled.

Employment Disputes

Legal counsel and representation in the event that an employee or ex-employee brings a lawsuit against you.

Contract Disputes

Legal fees associated with pursuing a client or supplier for breach of contract or failing to pay an amount due.

Property Protection

Coverage for legal fees associated with pursuing legal action for property damage.

Physical Harm

Coverage in the event you sue a third party for inflicting physical injury on you or one of your workers.

Who Needs Legal Expense Insurance?

You need Legal Expense Insurance if you fall into the following categories:

  • You lack an internal legal department.
  • You need legal assistance on an as-needed basis for your firm.

 

Which of the two forms of Legal Expense Insurance is available?

Legal Expense Insurance is available in two forms: Before-the-Event (BFE) and After-the-Event (ATE). Small- to medium-sized firms most often obtain BTE insurance to protect against unanticipated legal situations. ATE insurance offers coverage after the conclusion of a lawsuit, covering expenses paid during the legal proceeding. Consult your broker to identify the best course of action for you.

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Our team will be happy to discuss your insurance needs and provide full details of each policy and find the best quote for you.

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