Do not ignore alternative funding arrangements
By this stage, reading press coverage surrounding Jackson and the implementation of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO) is probably becoming nauseating for most litigators. Another cost conference talking about the changes, another survey conducted by a funder, insurer or broker (yes, we’ve done one too) and it all starts to become predictively repetitive.
The seductive indication from legislators flirtatiously implied they would give lawyers the freedom of contingency fees, only to impose such outwardly onerous obligations on the firm that DBAs are now seen as the somewhat ugly sister to the more flexible and arguably more appealing conditional fee option.
But underneath all the discussion, is there a changing attitude of clients? Is a client’s loyalty increasingly driven by the firm that offers the best deal on costs? From corporate clients offering panel work only to ferociously beat firms down on rates to a claimant seeking risk-free litigation, pressures on law firms to adapt their attitudes to fees are ever present…
If you are registered and logged in to the site, click on the link below to read the rest of the TheJudge briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from TheJudge
Briefings from TheJudge
Insurance options should not be limited to claimants who have expressed an interest in third-party funding.
Look out for clients recovering premiums on pre-Jackson polices