Press release -
Allianz Legal Protection partner with Enable Law for ATE Insurance Scheme
Allianz Legal Protection (ALP) has partnered with Enable Law, one of the UK’s leading specialist medical negligence law firms, which supports claimants across 7 regional offices in the South of England.
ALP will provide After the Event insurance (ATE) for all of Enable Law’s clinical negligence and personal injury case types, to protect clients against adverse costs and cost risks associated with unrecovered disbursements in litigation.
In addition to ATE insurance, ALP will also provide Enable Law with access to its Paid as Incurred Disbursement model (PAID). This will allow them to make early claims for disbursement through its unique funding model which is available without interest or drawdown fees.
Mike Wildy, senior business developer commented: “We’re very pleased to be working with the experts at Enable Law, and their independent broker QLP.This new relationship is further evidence of how attractive our PAID facility is to the ATE market and legal industry. As the legal landscape continues to evolve we’re well positioned to respond and will continue to develop market leading products and services specifically designed around the needs of our clients and business partners.”
Rob Antrobus, Partner at Enable Law added: “We are delighted to have partnered with ALP who have shown their expertise and enthusiasm to meet the needs of our business and clients. Their adaptability and collaboration to date has ensured our customers are protected with a market leading ATE product”.
ENDS
Notes to Editors
1)The PAID model is simply paying disbursements as incurred rather than at case conclusion, alleviating the cash flow burden that firms face due to disbursement expenditure.
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The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.
The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz Group customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz Group is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
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The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.
Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the euro/US-dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
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