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Appetite for commercial conditional fee arrangements (CFAs) is on the rise with a number of northern firms moving into the commercial litigation funding market.
Last week Pannone unveiled its move into the litigation funding sector by signing a delegated authority deal arranged by broker The Judge. Under the terms of the deal the firm will be able to effectively assess the merits of a case before putting in place a funding deal that can include after-the-event insurance, third-party funding or a hybrid of both.
Leeds firms Walker Morris and Brooke North have both signed deals with insurance giant QBE, which is fast becoming a major player in the litigation funding market.
“More and more firms are using CFAs as a means of getting access to justice for clients who otherwise can’t afford to get to court,” QBE senior underwriter Rocco Pirozzolo said.