Direct Line Group & Parabis Law apply to set up ABS
Insurance company Direct Line Group and Parabis Law have applied to set up an alternative business structure (ABS), DLG Legal Services, offering before-the-event (BTE) legal insurance for personal injury, non-injury claims, employment, debt recovery and contract issues.
Existing Direct Line, Churchill, Privilege and other partner brands motor and family legal expenses insurance policyholders will receive 100% of any damages awarded. Customers will be able to choose their own solicitor. New customers will agree a standalone fee for their case under which the fee will be deducted from any damages won.
Parabis was the first ABS to secure private equity backing, with Duke Street taking over half the firm last year.
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