Management Clinic: Don't overlook expenses
When we sell or renew car insurance we search the market for the best quote, but only offer legal expenses from one insurer. Why do I have to tell my clients that I am not giving them a choice in this?
This is one of these easily overlooked regulatory situations, but as with all your compliance matters, you need to make sure you get it right.
If not, and the FSA picks you up on it, it may well ask itself, what else is this firm not getting right, and you find that it is 'crawling all over you'.
The starting point is to understand that although you view the legal expenses policy as an 'add on', it is a separate contract of insurance in its own right. Consequently you have to treat it as such
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