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Co-op’s LSA gambit casts pall on Pannone alliance

By the time they get round to doing this there will be sod all profit in routine PI claims anyway. As I understand it, the new proposals are basically to bring back the old system, whereby up to 25% of damages is taken as a success fee. But when that scheme was last in force the PI industry didn't exist to anything like the extent it does now. So in the same way that the ambulance chasers are now offering cash incentives for people to instruct them in PI claims the next step will be to reduce the 25% deduction. And as night follows day this will be competed down to 0% deduction. Which will leave virtually no profit at all.

13-Apr-2011

6:34 pm