Insurance Cover for legal costs and settlement awards in the event of an employment dispute
The BPIF has introduced a ‘before the event’ insurance scheme for employment disputes that offers recovery of the litigation costs, agreed settlements, and any compensation payments awarded by an Employment Tribunal.
The insurance product is provided by ASL Albion Limited (Albion Legal), and the BPIF Legal Team acts as an Appointed Solicitor under the scheme. This means that The BPIF legal team are fully authorised to manage a members’ claim by the insurers.
An Employment Disputes Protection Insurance Policy is available to our Platinum Members for an annual premium based on wage roll and claims history, and policies can be adjusted for each BPIF Platinum member to provide for different levels of policy excess.
This arrangement enables the BPIF to provide our members with a seamless service covering all aspects of HR advice, managing employment disputes and covering the financial risk of dealing with claims.
Platinum members wishing to take advantage of the insurance scheme are required to have or already have had an HR Health Check within the last 12 months. This would audit members’ current HR and Employment Law policies and practices to ensure they are up to date with employment legislation, making the member eligible for the insurance scheme.
Policy holders need to follow the expert advice from the BPIF’s HR team and if a claim is started, via the ACAS Early conciliation process, it would then be passed to the BPIF legal team, who will then manage the claim and liaise with the insurers. In most cases we will be able to advise the insurer to authorise settlement payments of up to £10,000 per claim. The insurer will pay any authorised claim within 30 days of an agreement to settle, or Tribunal Judgment.
The BPIF’s solicitors have over 20 years of experience and are directly regulated by the Solicitors Regulatory Authority, assuring that you receive expert advice and achieve the best commercial outcome.
For further information or to request a quote please contact:
Head of Legal
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