Just weeks after LISC Risk Management Inc., formerly BridgePoint Indemnity Company Inc., announced its new legal expense insurance product, LISC Legal Cost Protection™, the market has provided “overwhelming” support, says company chairman and CEO John Rossos.
“We’ve had a massively positive response from clients both converting to the new product, and those interested in purchasing new LISC insurance policies,” he tells AdvocateDaily.com. “It has been very favourable.”
Canadian federal and provincial financial regulators have approved the legal expense insurance product, which is underwritten by Omega General Insurance Company and reinsured by two of the largest global reinsurers who have become LISC’s key strategic partners, says Rossos.
“Being in partnership with global reinsurance partners with A+ and A++ credit ratings ensures that our clients have more-than-adequate protection in place to support our coverage,” he says. “We arguably have access to more insurance capacity for legal expense insurance than any other insurer in the Canadian market.”