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100% Lloyd’s security
Market Leading
EDGE UNDERWRITING has become renowned for providing market leading insurance solutions in their chosen specialist product areas. Our exclusive LEXi product is no exception.
Broadest Cover
While there may appear to be some duplication with Management Liability policies in terms of providing cover for the defence costs associated with actions arising out of certain statutory matters (such as: Privacy, ATO, Unfair Dismissal, Sexual Harassment, Discrimination etc), our LEXi policy provides so much more. Consider the following exclusive LEXi benefits:
Cover
LEXi
ML
Legal cost of defending certain statutory matters
Fines & Penalties associated with certain statutory matters
Legal Cost of defending certain non-statutory matters
Legal Cost of pursuing certain non-statutory matters
Personal legal costs of defending certain non-statutory matters for employees
(if Personal Legal Expenses Cover Optional Additional Benefit has been taken)
Exclusive access to our free telephone legal advice service. This service provides advice on many legal issues affecting the Insured’s business (or the employees’ personal lives if personal legal expenses extension is taken).
There is no restriction on how many times LEXi policyholders may access this service however, it is limited to one 30 minute telephone call with a suitably qualified legal partitioner per matter.
This service is non-insurance related. That is, advice is provided irrespective of whether the matter is covered by the LEXi policy or not.
Contract Reviews
LEXi policy holders are eligible to receive 1 x contract review* per policy period.
*The contract review is limited to the insurance and indemnity sections of the
contract and the existing insurance program in place. er
LEXi
LEXi
Cover Examples
the pursuit or defence of a dispute with a landlord under a lease or tenancy agreement;
the pursuit or defence of a contractual dispute with a customer or supplier (eg. someone is withholding payment alleging issues with your goods or services);
the pursuit or defence of a contractual dispute with a customer, supplier, client, principal, contractor or subcontractor under a construction contract
(if Construction Contracts Optional Additional Benefit has been taken);
the pursuit or defence of a contractual dispute with an employee (eg. breach of non-compete)
(if Employment Contracts Optional Additional Benefit has been taken);
the pursuit of a third party relating to physical damage to property and/or goods owned which causes an uninsured financial loss;
the pursuit or defence of a personal dispute with a neighbour relating to fences
(if Personal Legal Expenses Cover Optional Additional Benefit has been taken);
the pursuit or defence of a personal dispute under an agreement for goods or services (eg. purchasing/selling a house; dodgy kitchen renovation)
(if Personal Legal Expenses Cover Optional Additional Benefit has been taken).
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Other Key Facts
Standard Sum Insured: $100K per claim / $250K in the Aggregate;
With Contractual disputes:
Minimum amount in dispute: $10,000 ($3,000 for personal cover)
We automatically cover all* existing and new contacts
(*standard cover excludes construction and employment contracts but these can be included as optional extras).
Excludes known circumstances at inception and new circumstances within first 90 days of inception.
With the higher limits and cover for fines & penalties available under traditional Management Liability policies, we would see the LEXI policy as a key part of an overall insurance program, and not as a replacement to Management Liability.
We can generally consider any business (other than crowd control, government departments, statutory bodies, armed or emergency services) with turnovers not exceeding $30mil.