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The Arc Legal team regularly provides media comment on relevant issues. Below is an article published in the insurance trade publication, Post Magazine, on legal expenses.
Cross-border collaboration is proving the best way to expand Europe’s burgeoning legal expenses insurance market, writes Edward Murray.
Whether firms choose to sell exclusively into the UK market or try to spread their wings internationally, all are working hard to further their offering to clients. Over and above LEI, Arc Legal is looking to become a provider of wider legal services.
Director Richard Finan says the firm wants to become the first port of call for people looking to access legal services rather than simply provide for clients’ needs in a dispute. Why, he argues, should insurers in this market not be able to provide a service for their policyholders through which they provide access to solicitors that can draw up a will or take care of their conveyancing needs?
It is this type of development that seems likely to drive the LEI market forward both in the UK and in Europe, rather than the markets changing the fundamental way they sell their cover to policyholders.
Mr Finan comments: “I do not think the UK model will change – it is very difficult to replicate the older European model. Why, he adds, would a UK policyholder want to exchange the add-on LEI policy they have bought for a tenth of the price for the stand-alone covers available on the Continent?”
SOME VIEWS ON FUTURE EXPANSION
– “We aim to grow organically as we have done over the last five years.” – Richard Finan, director, Arc Legal
The article can be found at www.postonline.co.uk