One of the UK’s most innovative insurance law firms is launching a unique service for insurance brokers at this year’s BIBA Conference in Manchester.
Broker-Legal ™ has been developed by O’Connors LLP to give insurance brokers easy access to the legal input they need to protect their own balance sheet and reputation, take advantage of new revenue opportunities and enhance their client service offering.
The service has emerged from extensive research working alongside the broking community and delivers all the legal back-up likely to be needed by busy broking firms and their clients including:
• Independent, domicile-neutral captive advice including feasibility studies and captive structures;
• FSA and EU regulatory advice, offering the benefit of legal privilege that only a law firm can provide;
• Drafting of client-specific or white-label policy wording including for D&O liability, trustee liability, legal expenses, environmental and other contingent risks;
• Pre-litigation strategic coverage advice;
• Broker agreements including TOBAs, service agreements, joint venture agreements and appointed representative agreements;
• Legal advice on insurance and liability provisions in clients’ commercial contracts with third parties.
Nigel Wallis, Partner at Liverpool-headquartered O’Connors LLP, said: “We already work closely with a number of the UK’s leading broking firms and Broker-Legal ™ has been demand-led from within the sector.
“Our team has great experience of handling broker-related insurance issues, including complex cross-border regulatory matters. This experience has given us an ability to help brokers maintain and grow their customer relationships as well as generate new revenue streams.
“We believe our services can particularly help small and medium-sized brokers to compete with the bigger players.
“An initial call or email enquiry to Broker-Legal ™ will cost the broker nothing and could prevent a costly mistake or unlock a major opportunity for the broking firm or its client.”
O’Connors has worked closely with BIBA for some years, helping to prepare some of its guidance notes for members. The conference theme – Opportunity in Adversity - presents the ideal backdrop to a service designed to help brokers identify and capitalise on new market opportunities.
Nigel Wallis and fellow Partner Paul O’Connor will be at the BIBA Conference and available to discuss the benefits of the new service.
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