News

Towergate Coverex

29 Jun 2010

Local broker advice as UK Businesses Expect Wave of Litigation

Specialist event insurance broker Towergate Coverex today urged businesses to protect their business and managers against increased litigation.

This follows a survey by global law firm Fulbright & Jaworski which found that 40% of UK companies expect to see a rise in legal disputes during 2010.

According to the survey 48% of respondents identified the economy as the principal reason they expect to see more litigation. In terms of the types of litigation seen by companies, a net increase was seen in matters concerning bankruptcy/insolvency (32%), contracts (27%) and regulatory matters (13%), among others, such as patents and labour/employment issues.

Mark Clayton, Managing Director of Towergate Coverex said, “The constant changes to the law and regulation are increasing the risk of management becoming a victim of personal litigation. What’s more the internet has increased the dangers of exposure to cyber liabilities and losses. Companies should speak with their broker who can advise them on insurance policies which can give protection to their business and themselves”.