The Master of the Rolls, Lord Phillips, and the Lord Chancellor, Lord Irvine, are abandoning the indemnity principle. The decision was made late last year and they are now looking at how to implement it.
The indemnity principle states that the loser of a court action pays pre-set costs that the winner agreed to pay their solicitor at the start.
Experts have warned that discarding this principle could lead to dishonest solicitors increasing their costs if they win a case, which means costs could spiral.
However, it has been deemed necessary to abolish the principle because it conflicts with conditional fee arrangements (CFAs) which are conducted on a 'no win, no fee' basis so the clients cannot agree to pay anything at the start.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
