Reportage: Tipping the scales
Brokers face a huge change in the way legal expenses insurance is sold and could lose out if they can’t tap into before-the-event products and add-ons, writes Martin Friel
Few sectors of the insurance industry have witnessed the seismic change that legal expenses has. From the Jackson reforms which, among other demands, will see a ban on referral fees and make after-the-event (ATE) premiums non recoverable, to the investigation by the Office of Fair Trading (OFT) into the sale of add-on products, it promises to be a period of great change.
Those operating in this sector including brokers, insurers and solicitors, must be feeling punch drunk at the moment trying to
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