Mishcon de Reya Launches Pre-Nuptial Agreement Insurance

Mishcon de Reya, in partnership with the Legal Expenses Insurer ARAG plc, and Lansdown Insurance Brokers of Cheltenham, today launch Protect Pre-Nup, an insurance product that provides cover for legal costs if a spouse challenges a previously agreed pre-nuptial agreement.

As the law stands, pre-nuptial agreements can only be considered binding with court approval; any challenge to a pre-nuptial agreement has to be decided by a Judge. The Law Commission is currently consulting on whether to make pre-nuptial agreements fully binding. Mishcon de Reya recognise that until the Law Commission publishes its recommendations, uncertainty in this area will continue to raise concerns for individual who wish to preserve generational and personal wealth. To address this uncertainty, Mishcon de Reya, in partnership with ARAG plc and Lansdown Insurance Brokers, have created Protect Pre-Nup.

This is an insurance policy which provides cover to help meet legal costs should a challenge to a pre-nuptial agreement arise: it is the first of its kind in the UK.

In addition to providing reassurance for clients, the policy addresses the call from the Lord Chancellor, Kenneth Clarke, to find alternatives to the ways in which individuals fund their legal expenses.