Allianz Legal Protection (ALP) has partnered with leading UK law firm, Lime Clinical Negligence Solicitors, to provide After the Event Insurance with the added benefit of ALP’s Paid as Incurred Disbursement (PAID) model.
The PAID model enables law firms to make early claims for disbursements (as they are incurred) and unlike funding arrangements, there are no drawdown fees or interest. It’s easy to explain to customers as it is not a loan and no consumer credit agreements are involved.
David Vine, business development manager at ALP, commented: “We’re delighted to be working with such a high calibre law firm. The opportunity to collaborate ensures that the injured client’s interests are put at the heart of the litigation.”
David added: “It is really pleasing to have launched our unique PAID proposition and to see it adding real value to our customers’ businesses. This is the first of many partnerships we expect to be announcing over the coming months.”
Neil Clayton, partner at Lime Clinical Negligence Solicitors, commented: “We have a long and established working relationship with ALP and the PAID model is an exciting new development which we hope will allow both ourselves and ALP to prosper”.
Allianz Insurance 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 86 million retail and corporate customers. Allianz 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 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 1.3 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 a leading position in the Dow Jones Sustainability Index. In 2016, over 140,000 employees in more than 70 countries achieved total revenue of 122 billion euros and an operating profit of 11 billion euros for the group.