Tag Results
CMCs’ turnover tops £1bn as referral fee ban prompts mass exodus from personal injury
Tuesday, 23 July 2013The turnover of claims management companies spiralled 31% last year to top £1bn, with the turnover for the financial claims sector exceeding that of personal injury companies for the first time, Ministry of Justice figures have shown.
Tags: claims management companies, CMC, personal injury, PPI
Posted in Latest news, Other lawyers
Legal Ombudsman chairman calls for major expansion in jurisdiction
Thursday, 13 June 2013All consumers of legal services – using a broad definition that includes “linked professional services and advice that has a legal dimension” – should have access to the Legal Ombudsman, its chairman said today.
Tags: claims management companies, CMC, Legal Ombudsman, personal injury
Posted in Latest news, Legal Ombudsman
Interest swap mis-selling claims company eyes ABS status
Tuesday, 30 April 2013A claims management company specialising in interest-rate swap mis-selling could become an alternative business structure in order to litigate its own cases. All Square Treasury has just announced the appointment of a legal director.
Tags: ABS, Alternative business structures, claims management companies, CMC, personal injury
Posted in Alternative business structures, Latest news, Market monitor
SRA fires warning shots over referral fee ban and “reckless trading”
Friday, 19 April 2013Law firms will be held responsible for breaching the personal injury referral fee ban if they sign up to ventures that appear to be genuine joint marketing schemes but prove illegal, the Solicitors Regulation Authority has warned. It will also target senior individuals within firms that “recklessly trade into insolvency”.
Tags: claims management companies, CMC, COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, personal injury, referral fee ban, referral fees, Solicitors Regulation Authority
Posted in Latest news, Marketing & PR, Solicitors
Sharp fall in number of CMCs as government confirms tough new conduct rules
Monday, 8 April 2013There was a sharp increase in the number of claims management companies closing down in the first three months of 2013 ahead of the referral fee ban coming into force, Legal Futures can report. The news comes as the government announces a tightening of CMCs’ conduct rules.
Tags: claims management companies
Posted in Latest news
Claims management companies win ABS status as SRA launches referral fee ban guidance
Tuesday, 26 March 2013A company that provides both claims management services and legal expenses insurance has joined forces with a law firm in an alternative business structure that needed a waiver to allow a 27-year-old solicitor to be its head of legal practice. It was one of two newly licensed CMCs.
Tags: ABS, Alternative business structures, claims management companies, CMC, personal injury, referral fees
Posted in Alternative business structures, Latest news, Market monitor, Solicitors
New marketing collective bids to move beyond PI as Accidents Direct plans big panel expansion
Monday, 21 January 2013A new marketing collective that is targeting consumer and commercial legal work – Simply Lawyers – is preparing for launch, Legal Futures can reveal. Meanwhile, Accidents Direct hopes to become the country’s leading claims management company by bringing more firms onto its panel.
Tags: claims management companies, CMC, marketing, personal injury, referral fees
Posted in Latest news, Market monitor, Marketing & PR
SRA and claims regulator dismiss Law Society speculation of referral fee ban “difficulty”
Wednesday, 9 January 2013The Solicitors Regulation Authority and the Claims Management Regulator have dismissed a Law Society suggestion that they will not be ready to implement the referral fee ban on 1 April. The society said there was a possibility the pair “may have some difficulty” in doing so.
Tags: claims management companies, claims management regulator, Law Society, referral fees, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Government will not set limit on payments permitted under referral fee ban exception
Friday, 23 November 2012The government is not currently planning to set an upper limit on payments that are exempt from the referral fee ban as “consideration for services”, it has announced. The news came as the Claims Management Regulator issued preliminary guidance on how it will approach the ban.
Tags: claims management companies, Legal Aid Sentencing and Punishment of Offenders Act, referral fees
Posted in Latest news, Other lawyers, Solicitors
Citizens Advice trains guns on CMCs – and their regulator for not prosecuting any
Wednesday, 14 November 2012Rogue claims management companies have been slicing off more than a third of the cash awarded in settlement of payment protection insurance mis-selling claims, according to a report by Citizens Advice. The charity also attacked the regulator for not pursuing unauthorised CMCs in the courts.
Tags: claims management companies, data protection, PPI
Posted in Latest news