ARAG targets commercial landlords
Legal expenses insurer ARAG has launched a comprehensive policy for commercial landlords in response to significant demand from brokers. Commercial Property Owners’ Legal Solutions combines the core elements of Landlords’ Legal Solutions – which protects against legal costs arising from residential letting disputes – with ARAG’s highly regarded Essential Business Legal policy. Additional cover has been included for commercial lease disputes and the letting of holiday accommodation.
The policy allows up to £50,000 for legal costs for disputes arising from commercial and residential property disputes and up to £50,000 for other disputes within the business itself. The newly created cover is for disputes over properties in the UK.
“It was our own business partners who alerted us to the potential for commercial property owners’ cover”, comments ARAG Head of Sales, Andy Talbot. “We then sought to enhance and refine the two existing policies into something that went even further. The new product squarely meets the concerns of commercial landlords in addition to providing a seamless join between familiar business and landlord legal expenses insurances”.
Access to five helplines – legal, tax, counselling, redundancy and crisis communications – and an online document resource, rounds off the new Commercial Property Owners’ Legal Solutions. It is available for rating on an individual scheme basis by the BTE Underwriting Unit via ARAG’s business development executives nationwide.
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