Insurers will have to pay out a minimum of 12.5%, rising to 100%, success fees for claimants' solicitors under an agreement reached at the Civil Justice Council.
The deal between solicitors, insure ...
Insurers will have to pay out a minimum of 12.5%, rising to 100%, success fees for claimants' solicitors under an agreement reached at the Civil Justice Council.
The deal between solicitors, insurers, academics and the ABI will apply to motor claims. Cases that are settled pre-trial will attract 12.5% success fees on base costs, while those won in court will receive the full 100%.
Beachcroft Wansbroughs partner Andrew Parker said: "We are bringing certainty and control to legal cases. What both sides needed most was certainty.
"However there was no deal on employers' liability (EL) or public liability (PL). This needs to be addressed."
While the agreement should allow all parties more control over financial plans some insurers could be disappointed the figure was not nearer the 5% they wanted.
No date has been set for the council to look at EL or PL costs.
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