New Divorce Products From Arag
Let us face it: there is a lot of truth in the old saying that “hell hath no fury like a woman scorned.” You can have the best contents insurance policy in the world, but the day your wife finds out about your mistress she is going to walk away with more than you ever thought possible. That is when you need divorce insurance.
Arag has, in fact, just launched two new divorce insurance policies, after a successful trial run in partnership with lawyers Mishcon de Reya and Prolegal.
Divorce Legal Solutions and Pre-nuptial Legal Solutions have been developed with legal firms who provide legal expenses cover and prepare nuptial agreements from the date of a civil partnership or a marriage.
The products will be sold alongside nuptial agreements. Both policies provide cover should a nuptial agreement be challenged in court and the policy holder incurs legal costs. Divorce Legal Solutions also include the costs associated with divorce proceedings.
The after the event specialists say that there is a clear need for nuptial insurance policies and that the Law Commission has also highlighted the issue by considering a legal framework for pre-nuptial agreements.
This, combined with the reforms the government plans to make in the case of civil litigation and the restrictions on legal aid for divorce cases can only mean one thing: that nuptial agreements will most likely get even more popular in future.
Tony Buss, the MD of Arag, commented “While some may see the very idea of ‘divorce insurance’ as unromantic, the realities of modern life and the government’s legal aid and costs reforms will make it harder for ordinary people to access justice before the courts, meaning this is the right time to launch such a product.”
Source: http://www.insurancedaily.co.uk/2011/09/06/arag-launches-divorce-products/
