Business legal expenses insurance
With a business legal expenses insurance you get legal help if you have a conflict with suppliers, employees, or customers. For example, if a customer or supplier does not honour an agreement. Or if you and an employee do not agree on their employment contract.
Is a business legal expenses insurance mandatory?
A business legal expenses insurance is not mandatory. But it may be advisable. If you run a business, you may encounter conflicts that can have legal consequences. The costs involved can be high, for example if you need to hire a lawyer. Legal expenses insurance for entrepreneurs can save you a lot of costs and problems.
What is often insured with business legal expenses insurance?
In case of a legal conflict, you are entitled to legal assistance. Your insurer will try to resolve the conflict on your behalf.
Many legal insurance policies also cover mediation and legal advice. It is better for all parties to avoid legal proceedings or lawsuits. This includes: advice on personnel, social legislation, or the purchase, rent, and maintenance of business premises.
What is usually not insured?
A number of situations are usually not covered by business legal insurance. For example, legal conflicts and disputes regarding:
- tax matters
- traffic violations
- bankruptcy
- between partners
- mergers or acquisitions
- credits, subsidies, etc.
- trade names or trademark, patent right, copyright