An agreement has been reached to fix recoverable success fees in road traffic accident cases where funded under a conditional fee agreement.
The agreement sets out the success fee that an insurer will pay the claimant's solicitor in a third party motor claim. The success fee will be 12.5% of base costs recoverable for all successful claims that are settled pre or post issue at court.
Cases that are tried will attract a 100% success fee.
The agreement is the result of a mediation conducted by the Civil Justice Council, involving the Law Society and the ABI, among others.
The Civil Justice Council said the agreement will be referred to the Rule Committee for consideration and drafting of the appropriate rules of court. The Council said it hoped the agreement would be implemented by early 2004.
