FirstAssist issues legal costs warning to SMEs
Small businesses, a core part of many brokers’ portfolios, continue to ignore the risk of costly legal action even though defending an average case could potentially put them out of business, according to research by FirstAssist Legal Protection.
The research by the legal expenses provider revealed that over three quarters (81%) of brokers believed that at most a quarter of their clients could withstand the cost of a significant legal action without legal expenses insurance (LEI).
The research also found that 44% of brokers felt a lack of awareness around the risk posed by legal action was the biggest barrier to selling the cover.
According to the company, the greatest threat of legal action comes from workplace disputes. It added that
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