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
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 lays out plan to implement referral fee ban
Tuesday, 23 October 2012It will be for personal injury solicitors to convince the Solicitors Regulation Authority (SRA) that they are not paying referral fees once the ban comes into force, it emerged today as the SRA published its long-awaited consultation on how it will implement the ban.
Tags: ABS, Alternative business structures, claims management companies, CMC, marketing, personal injury, referral fees, Solicitors Regulation Authority
Posted in Latest news, Marketing & PR, Solicitors
Legal Ombudsman to accept complaints about claims management companies
Tuesday, 28 August 2012Claims management companies (CMCs) face the prospect of having to provide financial compensation to unhappy customers after the government announced today that they are to come within the remit of the Legal Ombudsman.
Tags: claims management companies, CMC, Legal Ombudsman, Legal Services Act, LeO, personal injury
Posted in Latest news, Legal Ombudsman, Other lawyers
MPs call for wider referral fee ban and power to force data audits of law firms
Thursday, 27 October 2011The ban on referral fees should not be limited to personal injury, a committee of MPs has said. It also called for the Information Commissioner to have the power to compel audits of law firms to check for breaches of the Data Protection Act.
Tags: claims management companies, CMC, data protection, personal injury, referral fees
Posted in News, Solicitors
Claims management companies see income soar to £581m
Tuesday, 19 July 2011The turnover of claims management companies (CMC) soared by 57% to £581m over the past year, despite a ten-fold increase in the number of businesses having their authorisation cancelled, their regulator has reported.
Tags: claims management companies, CMC, personal injury
Posted in Market monitor, News
Blog
The lonely role of a COFA: sharing the burden of risk management
Compliance officers for finance and administration in law firms can often find themselves walking a solitary path. But what if we could create a collaborative culture of shared accountability?
Mind the (justice) gap: Why are RTAs going up but claims still down?
The gap between the number of road traffic accident injuries and the number of motor injury claims continues to widen, according to the latest government data.
Five key issues to consider when adopting an AI-based legal tech
As generative AI starts to play a bigger role in our working lives, there are some key issues that your law firm needs to consider when adopting an AI-based legal tech.
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