What Is Commercial Legal Protection Cover?

Liability insurance, or Management Liability insurance, but it aims to cover legal expenses not covered by those insurances.

Legal expenses insurance complements other classes of insurance as it lowers the financial burden associated with legal disputes, and provides access to legal advice and assistance which could curb the need for full-scale litigation. Under some wordings a Dispute may be taken to mean any civil legal proceedings or action in a Court or Tribunal either commenced by the Insured or commenced against the Insured by a third party which relates to the Insured’s core business activities and which falls within one of the policy’s Heads of Cover. Heads of Cover may include: Contractual Disputes regarding Supply of Good and/or Services, Tax Audit, Statutory Licence Protection, Landlord Disputes, Restrictive Covenant Pursuit (protecting a client’s intellectual property), Third Party Damage to Goods or Premises, Debt Recovery, and Legal Advice.

I recommend any SME entering into contracts, where they are supplying goods and services, (particularly if these services involve maintaining a statutory license) give a CLP policy some serious consideration. Having seen the financial difference that a successful defence can make for a small business, I believe CLP cover is of the utmost importance.

For a “health check” of your business insurance, contact Small Business Insurance Brokers via email: sales@ smallbusinessinsurancebrokers.com.au

Any advice in this article has been prepared without taking into account your objectives, financial situation or needs. Because of that, before acting on the above advice, you should consider its appropriateness (having regard to your objectives,needs and financial situation).

Craig Anderson

GENERAL INSURANCE

Small Business Insurance Brokers www. heightsafetyinsurancebrokers.com.au

0418 300 096