ARAG launches divorce products
ARAG is launching two new divorce products to the market, following a successful trial run with solicitors Mishcon de Reya and Prolegal.
Pre-nuptial Legal Solutions and Divorce Legal Solutions are aimed at law firms preparing nuptial agreements and provide legal expenses cover from the date of a marriage or civil partnership.
Sold alongside nuptial agreements, both policies cover costs arising from a legal challenge to the nuptial agreement, while Divorce Legal Solutions extends to include the cost of divorce proceedings.
According to the After The Event specialist, the need for nuptial insurance products has been highlighted by the Law Commission giving consideration a statutory framework for pre-nuptial agreements.
This combined with the restriction on legal aid for most divorce cases and proposed reforms to civil litigation, means that the popularity of nuptial agreements is likely to grow.
ARAG managing director, Tony Buss, comments: “While some may see the very idea of ‘divorce insurance’ as unromantic, the realities of modern life and the government’s legal aid and costs reforms will make it harder for ordinary people to access justice before the courts, meaning this is the right time to launch such a product.”
Category: Companies News, Home Insurance News, Insurance News
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