Employment Protection Scheme – Key Differences with Competitors
Insurance - There is a misconception by clients that all insurance policies are the same and will do the job when called upon. This is not correct and many clients will find this out when it is too late. As with any service or product you purchase you get what will get what you pay for. Hopefully your client will understand this and give you the chance to explain why explain the following.
Your Insurance offering will always be better because……..
There is a Fundamental Difference - The insurance behind our services has been specifically designed to meet your expectations and protect them when they need it. To ensure this happens an agreement has been put in place with insurers that ensures we determine prospects of success for claims and, as the client is taking our advice, claims are less likely to fail. This is the most important plus point for you as our duty is to act in their best interest and not the insurers. Any similar insurance product they will be offered will only allow the insurance company or a contracted law firm acting on behalf of the insurance company to control and authorise claims.
Key Benefits above the Competitors
- We are authorised to act on our client’s behalf under the terms of the insurance.
- The insurance policy will provide the highest quality legal representation. Other insurance providers use internal claims managers and / or restrict hourly rates for representatives to save costs and this effects the quality of service considerably.
- If the client follows our advice they can be certain the policy will respond - even if they find themselves with no reasonable prospects of mounting a satisfactory defence, which is excluded under most other policies.
- If a client does not follow advice provided there are reasonable prospects of success (which we determine) and the client has not prejudiced the Insurers position the claim will be covered (subject to normal policy terms and conditions)
Other Possible Plus Points that other policies may not give.
- ACAS Conciliation Period – Some policies do not cover claims in this period and trigger upon receipt of the ET1 claim form. Our policy will cover your legal fees and potential settlement at this stage.
- Waiting Periods – Some policies carry a waiting period (e.g. 90 or 180 days) which means that cover is restricted when clients proceed. Our policy has no waiting periods.
- Cancellation – The policy is sold on an annual basis and can be cancelled by giving 60 days notice. If the client has had no claims a pro rata return premium is made. Other policies are enforced by contract for long period and make it very difficult for the client to cancel.
- No Claims Discounts – Underwriters offer "no claims discounts” at the end of each policy year and discounts for training and tangible improvements in risk management.
- Flexible Claims Notification Clauses – Some insurance policies will reject claims if the client has not notified them within certain time periods or circumstances.
- Full Retroactive Cover – The policy does not exclude unforeseen claims arising from incidents that happened prior to the policy incepting
- Wide Definition of Workers – The policy has a very wide definition of workers that includes contractors and prospective staff in application for employment – other policies can be restrictive.
- Pursuit Cover – The policy can be extended to give cover for legal costs to pursue staff for breach of their employment contract – this is not often given by other insurers
- Wide definition of Discrimination – some policies restrict discrimination cover.
- Appointment to the Solicitor of the Reasonable Prospects Clause - if the onus of proving a claim has reasonable prospects is placed firmly on the client this can cause claims to fail.
- No apparent “contractual” link between the policy and the advisor – Some policies state that it takes no responsibility for the failure of the advisory service to give the correct advice. If the solicitor gives incorrect advice to the client the Underwriters will still cover the claim.