Major Insurer Enters Legal Market

One of the UK’s biggest insurers has announced its imminent entry into the legal market. Liverpool Victoria, better known as LV=, is to launch LV= Legal Services which will provide assistance in a number of specific areas of the law.

LV= is one of the UK’s biggest providers of insurance and related financial services. It currently employs over 6,000 workers and has roughly 5.7 million customers across the country. The announcement that the firm will begin offering legal services makes it the latest company to move into the legal sector under an Alternative Business Structure (ABS) license.

In order to supply clients with advice and assistance in legal matters, LV= will be cooperating with national legal services provider Lyons Davidson. This firm is no stranger to working in partnership with insurance companies, as it has already entered into partnerships with Admiral Insurance and with the AA.

Among the legal areas that LV= will cover are employmant law, conveyancing, and personal injury. The firm’s new legal operations will also provide help and advice on wills, and on matters relating to probate and power of attorney. Legal operations within LV= will be established with the lelp of Lyons Davids onto provide a basic level of legal support which will be sufficient for the majority of customers. Those who require more specialist, involved, or expert assistance on matters such as employment law and personal injury will be passed on to Lyons Davidson’s own legal professionals who will be able to provide this higher level of support.

LV= intends to offer its new legal services through an online quote generator – something that will be familiar to many consumers as a tool used in LV=’s primary industry. Much like an insurance quote generator, the system will allow consumers to enter their personal details and information about their requirements, and will then be provided with an up-front, fixed quote for legal support.

As well as the online quote system, the LV= Legal Services website will contain what the firm has called a “jargon buster,” which aims to clarify legal terminology for consumers. The company will also have advisers available to take calls from 8.00am to 9.00pm, the announcement claims.

LV= General Insurance’s managing director John O’Roarke said that the firm would try to tackle the “confusing, stressful and expensive” nature that currently defines legal advice. The firm’s new venture, he said, “will offer a transparent and affordable solution for those with a genuine need for high-quality legal service and want the security of knowing what their costs will be upfront.”