Gross written premiums for after-the-event insurance have overtaken before-the-event premiums, according to Litigation Protection managing director Brian Raincock.
Speaking at the Insurance Institute of London, Raincock said the legal expenses market is now worth over £250m in GWP per year, with ATE premiums exceeding £150m per year.
Raincock painted a picture of chaos in the legal expenses market with over 150,000 personal injury claims remaining unresolved in the courts. He said the picture should clear after Callery v Gray is heard in the House of Lords at the end of April.
