Arc Legal chooses REG to provide on demand due diligence and agency management
17 August 2018 – Leading provider of specialist legal expenses and add-on insurance products, Arc Legal Assistance (Arc Legal), has chosen REG (UK) Ltd (REG) to provide on demand due diligence and agency management.
Arc Legal will utilise the REG Network to significantly decrease the time taken to onboard new customers and to increase the frequency and detail of their current oversight processes. REG’s ability to provide diligence on firms in multiple licencing jurisdictions enables Arc Legal to manage their UK and Republic of Ireland domiciled business in one centrally managed utility.
Arc Legal Deputy Chief Executive Frank O’Malley said:
“We currently manage over 600 contracts covering in excess of 16 million policies. Maintaining effective oversight of our distribution is an important aspect of risk governance. The REG technology was an obvious choice for us.”
REG Managing Director Paul Tasker added:
“Arc Legal’s distribution continues to grow and we are delighted to provide on-demand solutions to enable continual due diligence and risk management to the business. The REG Network allows Arc Legal to save time and cost, reduce manual inputs and checks of key corporate and regulatory data.”
ENDS
For more information, contact:
Kirsty Plank, kplank@fullcirclecomms.co.uk
Full Circle Communications
Tel: + 44 (0)207 267 7887
Matt Beasley, mbeasley@fullcirclecomms.co.uk
Full Circle Communications
Tel: + 44 (0)207 267 7887
Note to Editors:
About REG
REG provides technology driven intelligence, due diligence and risk management solutions.
Through the REG Network, an on-demand service, REG has transformed counterparty compliance due diligence processes and accelerated agency documentation exchanges in the insurance market. REG provide a range of services for Insurers, Lloyd’s Managing Agents, MGA’s Wholesalers and Brokers all of whom are required to have oversight of their relationships with each other as well as their policyholders.
Over 89% of Top 100 Brokers that wholesale, as listed in Insurance Age, are registered on REG’s platform, and 20% are clients using REG to monitor their producing brokers. In addition, over 30% of Lloyd’s Managing Agents are registered members, as well as over 60% of Lloyd’s Brokers and Coverholders
REG is actively developing solutions to address Delegated Authority risk and regulatory requirements and expanded its offering in 2018 to provide global monitoring capabilities in over 80 countries.
For more information visit www.reg.uk.com.
Arc Legal Assistance Limited is an established, leading provider of legal expenses insurance (LEI) and assistance services in the UK and Republic of Ireland.
We write in excess of £22m Net Written Premium across all product lines and manage over 16 million LEI policies and 23,000 new LEI claims each year.
We are innovators within the legal expenses market, continually developing our product offerings and service delivery to provide best in market legal expenses solutions.
Our business model generates streamlined claims services and cost-efficient management via strategic partnerships with a small number of high quality independent law firms.
We tailor our legal expenses insurance solutions rather than simply offering standard products. We cover a full range of litigation risk areas including motor, family, commercial, affinity, property owners, travel and leisure. Products are distributed in partnership with insurance companies, brokers, financial institutions and affinity groups.
We have long established quality underwriting arrangements as well as acting for a number of insurers that choose to underwrite their own legal expenses insurance risk.
In addition, we offer a range of uninsured legal services based on a variety of funding methods. These include will writing, conveyancing, pre-marital agreements, divorce, tax planning, and probate services for individuals, contract drafting and employment advice for businesses and a top class 24/7 legal telephone advice service.
Arc Legal Assistance Limited is a subsidiary of AmTrust International Limited.
For more information, visit – www.arclegal.co.uk