Insurance company Uniqa has introduced insurance against legal risk, Napi Gazdaság reports. The insurer now provides financial help to cover the costs of legal representation, court fees, charges levied by arbitration bodies, court costs and on lost interest on required deposits.
About half of all households in Germany have some form of legal insurance, and Uniqa’s parent company in Austria has 400,000 such policies, whereas in Hungary only 1.5% of households have legal insurance, board member Pál Ertl said. In Hungary, people seldom go to court to protect their rights, he added, as they consider the financial risks and costs too high.