Posted on 10 Jul 2017
Leading Legal Expenses Insurer DAS is upgrading its flagship commercial LEI policy by including additional cover and enhancing other existing elements. According to DAS, the move is designed to make the cover even more suitable for businesses and the risks they face operating in modern society.
The new additions to the policy cover include; employee restrictive covenants disputes, crisis containment and communications support, redundancy approval service and a business legal health check.
Existing elements that have been enhanced include cover for tenancy disputes with landlords under property protection as standard. Business property cover has been expanded to now include recovery of physical property, such as mobile phones and laptops from employees and ex-employees. The contract disputes element of the cover now includes vehicle and IT-related contract disputes. The cover provided by the policy is subject to terms and conditions.
James Henderson, Managing Director Insurance UK & Ireland at DAS said: “We firmly believe that the need for legal expenses insurance is greater now than at any time; our research has shown that on average every business will face some form of legal dispute in a 12 month period
“The changes we have made to our commercial LEI product are part of our programme to update and modernise all of our propositions over the next twelve months, a process that started with the launch of our new motor LEI proposition earlier this year.
“Reviewing feedback from existing customers about their future needs, we have improved our commercial LEI product to better meet these needs. We have also re-engineered the policy wording using the behavioural economic tools from our customer understanding project to make this important technical document more accessible to businesses.
“We are always looking to improve not just the service we provide, but the relevance and depth of cover on offer to customers and we have developed an exciting pipeline of innovation which is already helping us to win significant new business. “
In today’s digital world of smartphones and social media, reputational risk is a serious concern. A reputation that has taken a business years to build can be destroyed in minutes. DAS claim that their new crisis containment element could help businesses with reputational management damage and crisis communications.