Adverse costs cover – back in fashion
The Jackson reforms had the potential to significantly disrupt the adverse costs insurance market and many questioned whether it could withstand the challenges the resulting Legal Aid, Sentencing and Punishment of Offenders Act raised. Fast forward several years and not only is the market alive and well, but adverse costs insurance is now seeing a new lease of life as a way in which law firms can differentiate themselves in the eyes of the client. In this article Director of Broking, Robert Warner, talks about the re-emergence of adverse costs insurance and discusses the important things to bear in mind when advising your clients.
Managing the Cost of Your Dispute
When bringing a dispute, it is vital that inhouse lawyers identify the most cost-effective way to engage external counsel and to protect themselves against heavy costs in the event of a loss. Click here to read Verity Jackson-Grant’s recent article in The In-House Lawyer, which explains how the key to finding the most cost-effective route to bringing a dispute lies in identifying whether the overriding fee objective is to relieve the cashflow burden of paying legal fees or whether the real priority is to reduce or remove the overall cost risk.
Litigation finance: Could law firms remodel to take on hedge funds?
Whilst litigation funding can be an obvious solution for clients looking for assistance with their legal spend, it can come at a hefty price. This begs the question: for how long will law firms sit back and allow hedge funds to make sizeable returns from their cases before they adjust their own models to ensure the proceeds of their success largely stay with them?
Many lawyers will have encountered cases that would have been ideally suited for a contingency fee, however the economic reality of risking their full fees is often too much for the law firm to stomach. A recent solution to this problem is the development of WIP insurance.
TheJudge’s tailored workshops
For well over a decade, TheJudge has been an industry leader in delivering bespoke training sessions for litigation and arbitration departments around the world.
Our training sessions are not “sales pitches” for any one product or indeed a sales pitch for TheJudge. Instead, they provide an overview of the whole market using practical examples that give your team a real life understanding of how funding and insurance options can be tailored to meet the needs of the client or your firm.
Our tailored workshops will provide your team with:
1. An up to date overview of the funding and insurance products available on the market and how they can be tailored to manage the cost risk for the client.
2. A clear understanding of how funding and insurance products can be utilised by the law firm to reduce risk and maximise realisation when acting under DBAs and CFAs.
3. The ability to confidently discuss the potential options with your client.
We don’t believe that anyone else in the market can provide such a genuinely independent training session. If you would be interested in organising a workshop for your department please contact us.