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Arc Legal Group (Arc Legal), the specialist provider of ancillary insurance products and services...
The Arc Legal team regularly provides media comment on relevant issues. Below is an extract from an article published in the insurance trade publication, PB (Professional Broking), on developments and growth potential in the commercial legal expenses market.
The legal expenses insurance market has been labelled many things: to some it has had more false dawns than Manchester City, while to others it is the sector most likely to succeed from the profits of economic gloom. Ralph Savage investigates.
Richard Finan, director at Arc Legal Assistance, believes that the vast majority of CLEI demand will be for BTE cover – driven by a rise in employment claims made against UK businesses – while the revised Employment Act (2008), which comes into force in April, could have a nasty sting in its tail. He comments: “The Act replaces the statutory process for disciplinary or dismissal, so you now have to follow Acas guidelines, which is a little better for employers. However, if you lose because the dismissal was deemed unfair then the tribunal can award an additional 25% for each employee than they would have done.”
The full article can be found at www.professionalbroking.co.uk