Legal Insurancebfa034aa-a420-4... · 2 Faure, Michael G. and De Mot, Jeff P. B. ”Comparing Third...
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About ARAG ARAG® (www.ARAGlegal.com) is a leader in legal insurance. It provides people with affordable and reliable legal counsel for everyday life matters. The company has an international premium base of more than $2 billion and protects 15.5 million individuals and their families worldwide. Legal Insurance People with Legal Insurance Around the Globe (Stand-Alone & Add-On Policies) How Does It Work? Why Have It? AVERAGE LEGAL FEES Attorney Fees Debt Collection Issues Neighbor Dispute Driving Privilege Protection Standard Will Preparation LEGAL INSURANCE $323 hourly 5 $2,717 $1,534 $2,584 $969 LEGAL INSURANCE $0 $0 $0 $0 $0 Without With 87% of people with legal insurance feel it reduces their stress. 7 ©2015 ARAG North America, Inc. 1 “SeeNews Competitive Intelligence. Legal Expenses Insurance Report – European Market Overview. Bulgaria: SeeNews, Sept. 2013. 2 Faure, Michael G. and De Mot, Jeff P. B. ”Comparing Third Party Financing of Litigation and Legal Expenses Insurance” Journal of Law, Economics and Policy, Vol. 8, No. 3, 2012. 3 “Prepaid Legal Services Find Growing Acceptance.” American Prepaid Legal Institute. 2015. http://www.aplsi.org/news/archive.cfm?ID=78 4 Agrast, Mark David, Juan Carlos Botero, Joel Martinez, Alejandro Ponce, & Christine S. Pratt. The World Justice Project Rule of Law Index 2014. Washington, D.C.: The World Justice Project, 2014. 5 Based on “The Survey of Law Firm Economics: 2014 Edition.” The National Law Journal and ALM Legal Intelligence, July 23, 2014. 500276 Legal Insurance Checklist If you decide to work with an out-of-network attorney, you are reimbursed for a portion of the cost of service. When choosing a legal insurance provider, make sure you compare policy features to find the right one for you. Does the policy have 100% paid-in-full coverage, or just discount services? Does the policy cover meetings with attorneys, or just phone calls? Does the insurance provider ensure attorneys are credentialed? What legal issues are covered by the policy? What are NOT covered? Legal Insurance provides coverage for fees associated with everyday legal events. Legal Insurance Life Cycle Call or Meet with Network Attorney, Receive Expert Advice & Representation Experience Legal Event Insurance Co. Handles Billing Worry-Free Life A. Q? File Claim with Insurance Co. Germany 2 United Kingdom 2 44% 62% 90% 14% 32% France 2 United States 3 Sweden 1 U.S. rank for accessibility & affordability of justice compared to other countries. 4 64/99 Attorney fees for most legal events are 100% paid-in-full. What Is It?
Transcript of Legal Insurancebfa034aa-a420-4... · 2 Faure, Michael G. and De Mot, Jeff P. B. ”Comparing Third...
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About ARAG ARAG® (www.ARAGlegal.com) is a leader in legal insurance. It provides people with affordable and reliable legal counsel
for everyday life matters. The company has an international premium base of more than $2 billion and protects 15.5 million individuals and their families worldwide.
Legal Insurance
People with Legal Insurance Around the Globe (Stand-Alone & Add-On Policies)
How Does It Work?
Why Have It?
AVERAGE LEGAL FEES
Attorney Fees Debt Collection Issues Neighbor Dispute Driving Privilege Protection Standard Will Preparation
LEGAL
INSURANCE
$323 hourly5
$2,717
$1,534
$2,584
$969
LEGAL
INSURANCE
$0
$0
$0
$0
$0
W ith out W i th
87% of people with legal insurance feel it reduces their stress.7
©2015 ARAG North America, Inc.
1 “SeeNews Competitive Intelligence. Legal Expenses Insurance Report – European Market Overview. Bulgaria: SeeNews, Sept. 2013.2 Faure, Michael G. and De Mot, Jeff P. B. ”Comparing Third Party Financing of Litigation and Legal Expenses Insurance”
Journal of Law, Economics and Policy, Vol. 8, No. 3, 2012.3 “Prepaid Legal Services Find Growing Acceptance.” American Prepaid Legal Institute. 2015.
http://www.aplsi.org/news/archive.cfm?ID=784 Agrast, Mark David, Juan Carlos Botero, Joel Martinez, Alejandro Ponce, & Christine S. Pratt. The World Justice Project Rule of Law
Index 2014. Washington, D.C.: The World Justice Project, 2014. 5 Based on “The Survey of Law Firm Economics: 2014 Edition.” The National Law Journal and ALM Legal Intelligence, July 23, 2014.
500276
Legal Insurance Checklist
If you decide to work with an out-of-network attorney, you are reimbursed for a portion of the cost of service.
When choosing a legal insurance provider, make sure you compare policy features to find the right one for you.
Does the policy have 100% paid-in-full coverage, or just discount services?
Does the policy cover meetings with attorneys, or just phone calls?
Does the insurance provider ensure attorneys are credentialed?
What legal issues are covered by the policy? What are NOT covered?
Legal Insurance provides coverage for fees associated with everyday legal events.
Legal Insurance Life Cycle
Call or Meet with Network Attorney,
Receive Expert Advice & Representation
Experience Legal Event
Insurance Co. Handles Billing
Worry-Free Life
A.Q?
File Claim
with Insurance Co.
Germany2United
Kingdom2
44%62%90% 14%32%
France 2
United States3Sweden1
U.S. rank for accessibility & affordability of justice compared to other countries.4
64/99
Attorney fees for most legal events are 100% paid-in-full.
What Is It?
