July 8, 2010 by Canadian Underwriter
DAS Legal Protection Insurance Company Limited (DAS Canada) has received its insurance licence from The Financial Services Commission of Ontario, making DAS Canada the first specialty legal expense insurer in the country able to offer policies in Ontario.
Legal expense insurance covers costs associated with pursuing and defending legal rights, following an unforeseen event.
Although previously unavailable to individuals in Canada, legal expense insurance has been offered in Europe for decades, giving policyholders greater access to the legal system.
At launch, DAS Canada offers three types of legal expense insurance policies:
•DASliving, for individuals and families,
•DASbusiness for small and medium-sized companies, and
•DASdrive for automobile owners.
Cost of the policies start at $80 per year for DASdrive.
In addition to paying policyholders’ legal costs following a dispute, all policies provide unlimited access to a Legal Advice Helpline.
DAS Canada plans to expand its offerings to Alberta, followed by British Columbia. Eventually these policies will be available in all provinces.
Policies will be sold through the property and casualty broker channel. Brokers can register with DAS Canada by visiting their Web site at www.das.ca