Conditional fee insurance schemes are becoming increasingly popular, according to insurance providers.
Premiums paid for the two existing conditional fee insurance schemes – the Law Society's Accident Line Protect and Litigation Protection – have exceeded all expectations. They topped £1 million in their first year and are reported to be increasing month by month.
David Hartley, professional policy executive at the Law
Society, said it had issued more than 10,000 insurance certificates in the first year.
Litigation Protection accounted for about 30 per cent of premiums. Brian Raincock, managing director of the insurer, said: “The demand is driven by the public rather than solicitors. People like the concept of a solicitor putting his money where his mouth is.”