Legal Expense Insurance

Legal Expense Insurance (LEI) Legal protection insurance, also known as legal expenses insurance or simply legal insurance, is a particular class of insurance which facilitates access to law and justice by providing legal advice and covering legal costs of a dispute, regardless of whether the case is brought by or against the policyholder. There are two types of LEI policies before and after the event, with the latter being more expensive as it allows for coverage after the lawsuit has started. 1- Before The Event (BTE) covers expenses arising in the future. This option provides coverage, like a standard insurance policy, with the insured paying premiums based on its risk profile. 2- After the Event (ATE) policies handle lawsuits after the action has begun. This coverage is more expensive because proceedings are underway and expenses are inevitable. Typically LEI provide cover for common issues such as; -Unfaire dismissal, discrimination at work. -Injury from an accident that was not your fault. -Disputes involving faculty goods or services. Legal Expenses covers the fees, costs and expenses of any kind incurred by any Person indemnified herein and its counsel in investigating, preparing for, defending against or providing evidence, producing documents or taking other action with respect to any threatened or asserted Claim. Growing awareness among brokers and consumers on the benefits of the coverage is crucial to developing the market further and providing access to justice for all. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful