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Dechert is planning to offer free legal advice to an entire segment of AIG policyholders on the impact of Brexit.

As part of a partnership between Dechert and AIG, the law firm will provide a free initial consultation to all AIG CorporateGuard clients regarding the impact of the UK's departure from the European Union (EU). CorporateGuard is a directors and officers policy issued to businesses outside of the US.

Dechert plans to counsel the AIG clients on planning, regulatory issues and the legal implications of Brexit. There is not a concrete time limit on the initial consultation, according to the firm.

David Kistenbroker, co-leader of Dechert's white-collar and securities litigation practice, said it is unknown how much work the firm will gain out of the partnership. But with the amount of cross-border trade and business involving the UK, he said, interest is likely to be high.

"I think it's the first time I've ever seen a partnership like this and it's all due to the inventiveness and creativity of AIG," Kistenbroker said. "We were delighted to be selected."

Dechert launched a Brexit resource group and hotline even before the results of the Brexit referendum were announced. The Brexit team includes Miriam Gonzalez, who previously served as a senior member of the cabinet for two EU external relations commissioners; Andrew Hood, a former legal adviser to the UK Prime Minister; Roger Matthews, a former legal adviser to HM Treasury and the Bank of England's Prudential Regulation Authority; and Richard Tauwhare, a former diplomat who represented the UK in EU Council working groups.

Gonzalez, co-chair of Dechert's international trade and government regulation practice, said Brexit is one of the main risks facing companies in the UK.

"We help companies to map out the impact that Brexit may have on their sector and their firm," Gonzalez said. "We also advise companies on steps to mitigate any risks that Brexit may bring and maximise opportunities, including how to try and shape the ongoing negotiations and new trade agreements to their advantage."

According to Dechert, some of the services CorporateGuard policyholders may receive in the first consultation could include best practices advice, instruction on how to mitigate risk and guidance on the legal implications for a particular sector or portion of the business's workforce.

"We continue to innovate to mitigate potential risks for our clients surrounding Brexit," Anthony Baldwin, chief executive of AIG Europe and AIG UK, said in a statement. "While the outcome of negotiations between the UK and the EU are not known, we are pleased to be able to offer this add-on service, at no additional cost, from one of the leading law firms in this area to give our clients additional insight and advice."