Commercial Legal Protection Insurance – What does it provide? And IS IT AFFORDABLE?

Commercial legal expenses insurance provides AFFORDABLE access to legal advice and representation in courts and tribunals when individuals or small businesses are faced with unfortunate legal issues and disputes that are not already covered by their other insurance policies.

In no way does this insurance replace General Liability, Professional Indemnity, Directors and Officers Liability, or Management Liability Insurance. It is intended to cover the gaps that your existing commercial insurance policies leave open and protect your business from potentially crippling costs that can be incurred.

Some examples of legal expense costs insured are:

1. Landlord-tenant disputes – for example disputes arising over the terms of the lease and alleged breaches arising from it.
2. ATO (Australian Taxation Office) Investigations – This cover will pay for an Insured accountant to respond to an audit by the Australian Taxation Office. If the audit escalates into a dispute, the policy can extend to also cover a specialist lawyer to represent the Insured in any proceedings which may arise.
3. Commercial Contract Disputes – legal proceedings with a contracting party over a contract of sale of goods or a contract for the hire of goods or a contract for the supply of a service.
4. Assistance with debt collection – the policy will provide support for the Insured to wield pressure in recovering the sums due, and eventually take matters to court if this fails to bring the desired outcome.
5. Statutory license protection – Legal Expenses incurred in an appeal by You against the suspension, revocation, imposed alteration of, or refusal to renew a Statutory Licence.
6. Restrictive Covenant Pursuit (protecting a client’s intellectual property) – When an employee leaves a business, it is essential that they are not able to take client information to a new employer and this cover ensures that where a restrictive covenant prevents them from doing so is written into their employment contract, legal assistance is on hand to lessen the damage caused.

Contact us or one of your Avoca-appointed brokers to obtain a quote or find out how much this will cost you.