Changes to the Costs of Claiming Compensation in 2013
MSB Solicitors Liverpool
Following Government reforms, all solicitor firms in England and Wales that act on a person’s behalf to pursue a claim for compensation following an accident, where the likely value is between £1000.00 and £25000.00, will not be paid their success fee from the insurer of the losing party.
 
There is now a fixed fee payment to lawyers, for example £500.00 in an RTC where the matter doesn’t go to Court and this has resulted in many firms no longer being able to act on behalf of claimants as it is economically unviable.
 
This will have dire consequences if an innocent party is unable to secure legal help or advice to advance their legitimate claims for personal injury compensation.
 
The insurance industry has succeeded in persuading the government into quietly passing reforms that will see many thousands of genuine accident victims left without the benefit of expert legal advice to assist them in their claims.
 
It is the fervent wish of UK insurers that you will no longer be able to seek independent, expert advice from lawyers but rather that you accept an early and premature offer from them direct to settle your claim.
 
At MSB, we have demonstrated our success rate in obtaining significantly higher settlements than the pre-medical offers of between £1000-£1500 made directly to the client.
 
Insurance companies do not want you to know this, however. Indeed, they don’t want you to receive any professional help or advice from a skilled, independent lawyer as you will then be in a position to make an informed decision.
 
The reputation of this firm and our history of dealing with all major UK insurers is such that once we are on the record as acting on your behalf, they will change their stance. 
 
The reason they make offers before any medical evidence is even obtained is because they want to settle the claim before you see a lawyer.  It is to be remembered that insurance companies are a multi-million pound profit making machine whose primary purpose is in increasing their share-holder’s dividends, not cutting policy-holder’s premiums. 
 
They are able to lobby the Government and release propaganda which is designed to make the general public think that the general public are somehow undeserving of compensation. 
 
We say enough is enough and rely on the age-old principle that compensation is designed to fix what someone else has done wrong.  If it was the case that no personal injury claims were allowed in the future, can you imagine how companies and individuals would act if they knew there would be no financial comeback? 
 
The general public need personal injury lawyers to hold other people accountable for the damage they cause. 
 
Insurance companies are not to be trusted.  We are.
 
Why? Because to place the correct value on a personal injury claim requires skilled evidence gathering and the involvement of various experts. Such a professional service can only be delivered, however, at a price that reflects the work we do and the risks of non-payment that we undertake on your behalf.
 
Such risks arise from our not having all the available information when you first instruct us; subsequent evidence or expert opinion that may not back up your claim; the chance that we may not beat an offer made by the other side if the matter goes to Court or even that the Judge may simply prefer the evidence of your opponent.
 
This is why we can justify charging a fee if we are successful on your behalf and whereas previously this success fee would have been paid by the opponent, due to the above change in the law, this is no longer the case.
 
So, if you win your claim under a No Win, No Fee agreement, you will be awarded compensation from the opponent and we will then, and only then, charge you a success fee for the work we've undertaken on your claim. The success fee is simply a percentage of the billable work we've undertaken on your claim and is paid via a deduction from the money you are awarded at the conclusion of your claim. While the amount can vary depending on the complexity of your claim, the amount you pay can never be more than 25% of your General Damages that you receive for pain, suffering and loss of amenity.
 
And in the event that you lose your claim under a No Win, No Fee agreement, you will not have to pay for this firm’s legal work.
 
Should you have any questions, however, please do not hesitate to ask us.

MSB Solicitors

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