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