As was reported in TheLawyer on 19th March 2013, TheJudge is proud to confirm that it has brokered a market leading litigation funding and insurance portfolio facility for ‘Top 100’ law firm Lewis Silkin.
Surveys have shown in the past that one of the factors lawyers blame about the limited take up rate of litigation funding is the time it can take to interact with the market and receive suitable terms for their client. To solve this problem, one of the features of the new litigation funding and insurance facility, branded LS Access, is that funders and insurers will respond to any application for litigation funding or insurance within five working days.
This, coupled with the fact that the entire application and tendering process is managed by TheJudge’s secure online system, means that Lewis Silkin’s clients will be presented with indicative terms supported by independent advice from TheJudge on the funder’s background, source of capital, track record and experience, within five working days of making the online application.
Following implementation of the LASPO Act, the introduction of new retainer options for lawyers such as DBAs has opened up contingency style agreements for the first time in non-tribunal work in the UK. As a result, many lawyers are reviewing the firm-wide litigation funding arrangements with a view to offering clients something new.
Our understand is that LS Access, which involves many of the market’s leading litigation funding and insurance providers, is the first portfolio arrangement surrounding litigation funding launched by a firm since the LASPO Act came into force on 1st April 2013.
To understand what litigation funding and insurance options are open to your firm, or to discuss a particular case in need of litigation funding or insurance, don’t hesitate to contact us.
We are also offering CPD accredited training sessions to law firms across the country, so get in touch if you would like to book a session for your team.