Press release: Introducing ‘Business Risk Protection’

A new SME product offering for financial services and insurance providers

Epoq Legal has rolled out a new InsureTech product for SMEs as either an optional or mandatory product sold alongside insurance and financial services products. The product helps SMEs become more aware of their legal rights and obligations and enhances both the prospects of successfully defending and pursuing legal claims.

Currently working with major insurers on their LEI cover; this same proven service is now being offered to commercial lines insurers, brokers, challenger banks and other financial service providers with a more widely accessible Business Risk Protection (BRP) product.

According to ‘The legal needs of small businesses 2013-2017’, a research survey by the Legal Services Board, small businesses make up 99% of all businesses and contribute 37% to total business turnover in England and Wales per year.

In a 2017 survey of SMEs conducted by YouGov with economic analysis from the Centre for Economics and Business Research (CEBR), SMEs are losing more than £13.6 billion a year by failing to take care of their legal issues. 43% of legal issues resulted in losses of £5,000 or more with an average annual loss of as high as £44,958 in the Business Administration and Support Services sector.

The survey found that the average SME in the UK is likely to encounter more than eight legal issues a year. More than half of all issues were found to be in five key areas:

— Disputes (13.2%)

— Employees and Key Contractors (12.5%)

— Customers and Suppliers (11.4%)

— Terms and Conditions (9.2%)

— Software (9.1%)

— Others (44.6%)

In essence, BRP provides SMEs with hi-tech legal document drafting and advice, covering around 120 different services. Its qualified legal team forms part of a smart process to check and amend any documents drafted, and give advice on business contracts, workplace and regulatory topics such as consultancy agreements, employment contracts, debt recovery, health and safety, and debtor management. The legal service web platform works on all modern mobile devices and desktop computers. Featuring Epoq’s legal document automation technology customers can prepare legal documents in real time by answering a series of AI driven questions, where the answer to one question determines the next, thereby generating a fully tailored legal document. The drafting process also includes helpful explanations, practical examples and searchable guidance notes all written in plain English and fully backed by Epoq’s SRA regulated legal team.

Unlike traditional LEI, BRP for SME policyholders:

— Offers value from day one as there is no need for a valid claim to use the service

— Helps SMEs reduce the risk of liability claims and awards, and enhances the prospects of legal recovery action and defence through the legal compliance and tight contractual provisions of Epoq’s legal documents

— Provides access to smart tools, and qualified legal advice and assistance that creates high-quality tailored legal documents without the usual expense and inconvenience of traditional legal services

In terms of financial services and insurance providers, Epoq’s BRP service:

— Is a non-risk, high-value, low-cost income-generating product that can be sold independently of LEI as an optional or mandatory cover product and can sit alongside any mainstream commercial lines insurance

— Provides the benefit of risk mitigation and can reduce insurance claims ratios

— Can be sold by commercial insurers, brokers, challenger banks and other financial services providers to SMEs as an optional or mandatory service, adding to their existing offerings

Cohen concludes, “As a company that exists to make law easy it is vital to us that legal services evolve to reflect the changing times and that we continue to remain at the forefront of the global movement to make legal services more accessible, more affordable and more user-friendly. Our products cost a mere fraction of traditional legal services and our packages are far more comprehensive. They can be accessed immediately and can substantially reduce the cost and time taken to deliver legal services. Our new BRP product presents opportunities for financial and insurance service providers to expand their current business offerings and better meet their clients’ needs”.

For more information call us, email hello@myriskprotection.co.uk or visit www.myriskprotection.co.uk.

Epoq launches a thoroughbred legal service for BHS members

British Horse Society members now have access to a 24/7 legal helpline giving advice on a wide range of issues.

Operated by Epoq’s lawyers the advice line is available to all BHS friends including Gold, Life and Founder members. The service aims to put members in good “steed” with specialist advice on equestrian matters.

Epoq’s experts each have over 20 years experience in legal areas that might affect BHS members. These include issues around selling or agreeing to loan a horse and also disputes arising from stabling a horse.

Our advisors are also able to deal with personal matters such as estate planning, inheritance tax, disputes with neighbors and relationship breakdown.

More information can be found on the BHS website at:

http://www.bhs.org.uk/legal-helpline

The scores are in! Epoq’s 2018 customer feedback survey reveals an overall satisfaction rate of 90%

Today, millions of consumers and small businesses worldwide have access to Epoq’s online legal document and advice services.

To make sure we’re offering the best possible service, we regularly ask our customers for feedback on several aspects of our service, including how easy it is to use and the quality of the documents, advice and support given. Any issues or problems highlighted are escalated to the department concerned and addressed immediately where possible.

Our most recent survey has revealed a high level of satisfaction overall, with 90% rating the service either excellent or very good. 86% of responders found the online service easy to use and 90% thought the documents they created using the system were of a high quality. In addition, 89% rated the quality of the advice and support given by the legal team as excellent or very good. And, where our service is made available via an insurer, 82% of customers said having access to the service made them more likely to renew their insurance policy.

Finally, when asked if they would recommend the Epoq service to family or friends, 97% of survey responders said they would.

Here are some of the comments we received

“Amazed at how easy it was. Have renewed based on this service and service of call centre.”

“Very good service, I would recommend to others to take out the legal part of their home insurance.”

“I was amazed at the level of legal help in regard to the legal documentation which I could access. For this alone, I’ll renew without question.”

“Excellent free legal review service. This was a selling point on the policy!”

“Very good, I needed to arrange new codicils to my wife and my Wills quickly due to ill health and was able to do so using your codicils very rapidly and cheaply.”

“First class. More thorough and robust than any other online process!!

“We thought it an excellent service, the forms were explanatory and easy to complete. We are not masters of modern technology but your technical department helped us with advice when we needed it.”

“They made it so easy to complete the forms and when I contacted them, they were very polite, helpful and informative.”

“A worthwhile system-based tool which gives an excellent overview of services offered. In addition, provides key information on a variety of legal issues that we may well encounter.”

For more information about our online legal document and advice service, email us or call on 020 8731 2424.

Employee rights: key facts for today’s employers

Every employee in the UK is entitled to certain rights through statute and an employer’s failure to grant them can have serious repercussions for their business. It’s therefore really important for every employer to understand the law and take steps mitigate the risks of employment disputes and tribunals.

In this article, we provide a list of the main statutory employee rights and a summary of the ones most affecting the day-to-day running of every business, regardless of its size.

Statutory rights

The main statutory rights of employees are:

• Not to be discriminated against on the grounds of disability, gender reassignment, marriage or civil partnership, pregnancy or maternity, race, sex, sexual orientation and/or religion or belief (England, Wales and Scotland) or religious belief or political opinion (Northern Ireland)
• To be paid the National Minimum Wage
• Entitlement to maternity, paternity and parental leave
• Not to be unfairly dismissed
• To be paid a redundancy payment (subject to certain conditions)
• To be given minimum notice when the contract of employment is terminated
• To be entitled to join a trade union
• To be given time off for ante-natal appointments

Key facts

Below we’ve listed alphabetically the key facts relating to some of the main statutory rights described above.

• Adoptive leave and pay

Adoptive leave and pay allows one member of an adoptive couple to take paid time off work when their new child starts to live with them.

• Discrimination

If you discriminate against your employee on the grounds of age, disability, gender reassignment, marriage or civil partnership, pregnancy or maternity, race, sex, sexual orientation and/or religion or belief (England, Wales and Scotland) or religious belief or political opinion (Northern Ireland), or trade union membership, you may be acting unlawfully.

• Employment tribunals

Employment tribunals enforce most statutory employment rights. They have jurisdiction to hear, for example, unfair dismissal and discrimination claims. Tribunals can also hear some breach of contract claims.

• Equal pay

Men and women are entitled to be treated no less favourably than a person of the other gender in the same employment, where they are employed on ‘like work’ with the other person. The position is the same where the work is rated as equivalent, or the work is of equal value to that of the comparator in the same employment.
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How “legally” healthy are your employees?

Today’s employers place a lot of emphasis, quite rightly, on benefits that address the physical, mental and financial wellbeing of their employees.

But one aspect of everyday life that is often overlooked in the formulation of benefit programmes is the need for people to protect themselves against a number of day-to-day legal risks.

Laws and regulations affect all of us and though sometimes perceived as unnecessary, bureaucratic or even intimidating, most laws are in fact designed to protect us from unscrupulous businesses and individuals.

It is perhaps this perceived inaccessibility of the law which has resulted in a general lack of awareness amongst many people of their personal legal rights (and obligations) and of what constitutes a ‘legal’ matter. Everyday activities such as shopping, driving, holidaying and even eating out are all covered by consumer rights regulations, as are loans and other financial services. Family relationships, too, are affected by legislation, including laws relating to marriage and cohabitation, parental responsibility and the rights of inheritance. There are also regulations designed to protect renters and laws to makes it possible for people to safeguard their future interests through formal documents such as lasting powers of attorney.

In order to help employees get an understanding of the sorts of legal issues that may affect them, we’ve developed a simple legal ‘healthcheck’. Easily accessible online and quick to complete, the healthcheck will highlight areas where employees might be at risk and recommend documents that they can use to address the issues and protect themselves.

To see how it works, try the healthcheck for yourself – simply click here and complete the short questionnaire. (more…)

Help your employees get peace of mind in 2019

Did you know that if someone dies without a Will, the state decides who gets what, regardless of what the deceased might have wanted?

Making a Will is the only way for your employees to ensure that their inheritance is distributed amongst their loved ones exactly as they want it to.

Yet, our research revealed that nearly 60% of employees in the UK don’t have a Will, leaving their partners and children at risk of financial hardship and distress.

Now, through Epoq’s Legal for Life service, you can support your employees by giving them access to an online Will to help them safeguard their families’ futures and get peace of mind – without the need for them to take time away from work!

Would like to learn more?

Check-out our video to see how it works or call us on 020 8731 2424 to find out more about our Wills service and commercial models.

Five legal issues employees aged 50-plus need to think about

Figures from the Office for National Statistics show that the UK now has more than 10 million workers aged 50 and above, representing 31 per cent of the total workforce. And, as people live longer and the state pension age increases, this figure is set to rise.

As employers will know, the needs and concerns of this age group will be different to those of their younger workers and, as such, require benefits specifically tailored to their circumstances.

Our own research conducted in 2017 revealed that the top five benefits most valued by employees aged 55 and above were a pension (96 per cent), health insurance (91 per cent), flexible working (86 per cent), life insurance (84 per cent) and legal advice (83 per cent).

These figures give a clear overall picture of the sorts of concerns older employees have and can provide the basis for a benefits programme tailored more specifically to their needs.

Although auto-enrolment means that workplace pensions are now available to employees of all ages, and group health and life insurance are established benefits, legal advice is often hidden away in an employee assistance programme (EAP). The low usage levels of this provision suggest that employees either don’t know the benefit exists or don’t understand what constitutes a ‘legal’ issue.

Older employees, however, face a number of legal issues that, though often considered gloomy, need serious consideration if they are to protect their own future welfare and the interests of their family.

Below we list five legal concerns your 50-plus employees may be facing and suggest a way for you to help them.

1. How can I safeguard my family’s financial wellbeing after my death?

Making a will is the only way to ensure that your estate – your property, money and belongings – are passed on to your family members exactly as you would wish. Not having a will in place when you die – known as dying intestate – means that the state effectively decides who gets what based on the rules of intestacy. Furthermore, dying without a will often results in delays in getting all the financial matters sorted and can lead to family disputes and hardship.

2. Who will look after my children should I die before they reach 18?

As people are generally starting families later in life or have children from second marriages, the number of 50-plus employees with dependent children is set to increase. Our own research in 2018 revealed that 28 per cent of employees aged 55-plus had children aged 18 or younger living with them.
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In case you missed them: Epoq’s research findings and articles during 2018

As 2018 draws to a close, we thought you might be interested to read a round-up of Epoq’s research findings, articles and press coverage, which you may have missed during the year.

Just click on the links below to read more. And, if you’d like to discuss our service or any of the topics featured, please don’t hesitate to get in touch.

Wishing you a happy and prosperous 2019!

Research findings

 Articles & press coverage

 Video

 Book an online demo

  • Just complete our online request form and we’ll be in touch to arrange a time that’s good for you. Alternatively, email us or call on 020 8731 2424.

Support employees ‘at work’ and ‘in work’ – a new way to be a great 21st century employer

Over the years a lot has been written about how companies can become ‘employers of choice’ and how important it is for a business to be ‘winning the war for talent’. These topics have formed the basis of many academic papers and conference slots have been devoted to them, leading, no doubt to a healthy stream of work for consultants and advisers.

And why wouldn’t an employer strive to create a place where people want to work, as it is a vitally important part of attracting the best people?

Today, there is at least some consensus around what makes an ‘employer of choice’. I don’t intend to tackle that topic in great detail here, except to say that in the 20 or so years since I first entered the world of pay and benefits, there has been a shift in the notion of what makes a good employer. Back in the 90s and 80s – in the private sector at least – the concept of a great place to work was heavily rooted in how much money a company made and how much of that money was shared with its employees, through above market rate salaries, bonuses and commissions. Back then it seems, a ‘good company’ ie one that made a lot of money, equated to a ‘good employer’.

The impact of societal changes

Since then, societal changes have created a landscape where employees, while still valuing financial stability in their employer, have a much broader set of wants and needs when it comes to deciding where to work. Things like wellbeing, mindfulness, equality and social responsibility all have a part to play in the choices people make when choosing an employer.

Perhaps one of the most fundamental differences we see now compared to the 80s, say, is in the notion of a work/life balance. At that time, it meant finding a way to do your job while still having the flexibility to spend meaningful time with family and friends without feeling guilty – nothing more.

Today, technology has resulted in a shift towards an ‘always on’ work culture, meaning that the lines between ‘work’ and ‘not-work’ are much more blurred.  And, while this brings some advantages and perhaps allows more people to participate in the workplace, it also creates a more complex relationship between employer and employee, often requiring a ‘quid pro quo’ arrangement between them.

Barriers between work and home have softened

Unlike 30 years ago, when there was a hard break between work and home life, many employees today don’t have such a barrier and can be contacted at any time or see things developing in their workplace even if they’re not physically there. Of course, the flipside is also true, so a quick glance at the mobile phone during the morning tea break will allow an employee to see what’s going on outside their workplace.

As work frequently encroaches on employees’ outside lives today, they find that if they are to achieve a work/life balance, they will need to bring their ‘life’ into their workplace.

So, what are the kinds of life issues that employees might bring into the workplace and what can their employer do to help?
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Flexible working – key facts for employers

The freedom to work flexibly has become increasingly important to employees, particularly for those with caring responsibilities or a desire to achieve a healthy work-life balance.

In fact, our employee benefit survey of 2017 found that 91 per cent of employees value flexible working – the second most highly valued benefit from a list of eleven that included health, legal and financial services. Furthermore, our follow-up survey in 2018 revealed that flexible working is the benefit most widely used amongst employees across all age groups.

But what are the rights of employees and the obligations of employers relating to flexible working today? Below are some key facts for employers to take into consideration when including flexible working in their employee benefits programmes.

Who can request to work flexibly and how do they go about it?

Legally, all employees have the right to apply to work flexibly. However, employers are only obliged to consider applications if the employee has worked for them continuously for at least 26 weeks. Furthermore, employees cannot make more than one application in a 12-month period. To make a request for flexible working, the employee will need to put their request in writing and cover the following points:

• state that the application is being made under the statutory right to make a flexible working request;
• specify the flexible working arrangement applied for;
• state the date when they want the change to start;
• explain what effect, if any, the proposed change will have on their employer’s business and how the they believe any effect can be dealt with; and
• state whether any previous statutory flexible working applications have been made and, if so, when.

How should the employer respond to the request?

Initially, the employer should acknowledge receipt of the employee’s request then follow the procedure as set out in the Acas code of practice, which stipulates that:

• all requests must be considered in a reasonable manner.
• all requests, including any appeals, must be decided within 3 months from the date the application is received by the employer. An extension of time can be mutually agreed between the employer and employee.
• refusal of an application must be on one or more of a small number of permitted business grounds (see below).

The Acas code also recommends that a meeting is held with the employee to discuss the application and that the employee is given the right to appeal the employer’s decision.

What are the grounds for refusal?

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