As an increasing number of law firms begin to seriously consider and attempt to plan for a post Jackson, post LASPO future, the interest in innovative products such as disbursement funding has dramatically risen.
This may be primarily down to the reduction in public funding which is expected to affect this area of law. In light of this development, it is more important than ever that solicitors consider how clients will pay disbursements in order to investigate their case if public funding is no longer an option.
There need to be solutions available that maximise business opportunities for the firm, whilst also enabling them to act in the clients’ best interests.
Another important consideration at this time, is whether clients will still be able to insure against the risk of being unsuccessful, once after the event insurance premiums for adverse costs are no longer recoverable. It was thought that qualified one way costs shifting would remove the need for adverse costs cover, however with clients still at risk of liability for the other sides costs if they fail to beat a Part 36 offer, the costs implications may remain.
At TheJudge we are pleased to broker products that can assist with all of these concerns. If this is an area you would like to discuss in greater detail please do not hesitate to contact us on 01403 242999 or email Katherine.Hemsley@thejudge.co.uk