Carole Nash announces new deal with NewLaw

carole-nashCardiff-based insurance firm, Carole Nash, has announced a new deal with NewLaw, a Cardiff-based firm of solicitors that specialises in personal injury claims and private client work. The partnership will essentially take the form of a business structure that is separate from both existing entities.

The partnership was approved by the Solicitors Regulation Authority (SRA) on the basis that no third-party claims will be outsourced from Carole Nash to other members of the group and that the branding and logo of the new company must identify it as a separate business. The move was also given ABS approval by the Automotive Association (AA) shortly afterwards, under similar guidelines.

The new deal extends a mutually beneficial relationship, but has resulted in the creation of new company that offers extended legal services to customers of both firms, including personal injury advice and advice on uninsured loss. There are longer term plans afoot to offer a much broader range of legal services in the future.

A mutual beneficial deal

Carole Nash is one of the biggest motorcycle insurance brokers in the United Kingdom, providing insurance for a quarter of motorcyclists on the road today, which is a welcome expansion of NewLaw’s customer base. Despite having worked with NewLaw previously, Carole Nash selected its new partner after a year-long tendering process, emphasising that this far from a one-sided partnership, with NewLaw’s experience in motorcycle insurance. The company processes thousands of claims on an annual basis, illustrating that the partnership is very much a natural one.

Addressing customer needs

The new limited liability partnership (LLP) was conceived by Carole Nash as a way to address specific issues that its policy holders face. The vast majority of claims made are for accidents that were not the fault of the motorcyclist, thereby necessitating the need for personal injury cover, as well as for uninsured losses.

The shape of the deal

The new entity will be chaired by the aforementioned David Newman, while NewLaw Chief Executive Officer (CEO), Helen Molyneaux, also takes on the role of CEO for the new company. The board is further supplemented by the addition of Carole Nash financial director, Clive Roberts and Philip Dicken, a director at NewLaw.

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