TheJudge’s Response to the Government’s Post-Implementation Review of Part 2 of LASPO
Given the significant impact the implementation of LASPO has had on the After the Event (ATE) insurance market, we felt it important to share our experience with the Ministry of Justice in response to their Post-Implementation Review of Part 2 of LASPO. Click here to read Matthew Amey’s brief summary of our key points specifically with regard to commercial and other non-personal injury litigation.
Accelerate: Quick Quote ATE Insurance for Commercial Disputes
When we talk to solicitors about what they would like to change about the ATE insurance market most point to the amount of time it can take to obtain cover for what they consider to be pretty straightforward cases. With this in mind, we have worked with a selection of A rated insurers to develop a fast track process for obtaining competitively priced ATE insurance for commercial cases requiring adverse costs and own disbursements cover of up to £100,000. The aim of Accelerate is to afford you and your client the speed and certainty of obtaining ATE through a fast track arrangement whilst maintaining the peace of mind that comes from a search of the market. Visit our Accelerate page on our website to learn more.
How Lawyers are Using Insurance to Overcome their Fear of DBAs
Whilst the prospect of earning a share in the client’s damages is an attractive proposition, many lawyers are yet to take the plunge. With the growth of the third party funding market in recent years, it has become common place for lawyers to settle for receiving their hourly rate on an ongoing basis at the cost of seeing money that could have been channelled into their firm earned as a success fee by the funder. But as more lawyers gain experience of making an application for funding, they are realising that if a case is good enough to successfully jump through a funder’s hoops, it follows that it’s good enough for them to back themselves.
Whilst some law firms are taking the decision to seek their piece of the pie through setting up their own funds, others are utilising insurance to provide them with the financial comfort they need in order to offer DBAs and access similar significant returns. Click here to read Verity Jackson-Grant’s article on Practical Law’s Dispute Resolution Blog on how law firms are using DBA insurance to overcome their fear of damages-based-agreements.
Other interesting articles:
How treating a dispute as an asset can lead to funding for more than legal fees.
Verity Jackson-Grant talks to Economia about how some financiers are viewing disputes as assets that can be used as collateral for a loan to provide working capital to enable the business to continue to function whilst awaiting the outcome of its claim. Click here to read the full article.
Matthew Amey comments in the Law Society Gazette on the role litigation funding plays in competition disputes. Click here to read the full article.
Meeting your SRA duty to advise the client on how they can pay their fees.
Click here* to read our latest article in New Law Journal on how lawyers can obtain specialist advise quickly and cheaply leaving no reason for them to risk falling foul of their duty to put the client in an informed position with regard to the payment of their legal costs.
*subscription required but please contact Verity Jackson-Grant if you would like to discuss this further.