UK individuals and small business customers affected by the collapse of after-the-event insurance LAMP will be protected, the Financial Services Compensation Scheme has confirmed.
Well-known after-the-event insurer LAMP has applied to go into liquidation after failing to secure additional finance so it can meet its current obligations and insure new risks.
Barristers are under no duty to advise clients on litigation funding unless specifically instructed to, and do not then assume “a continuing duty” to keep it under review, the High Court has held.
Solicitors handling low-value PI claims since LASPO should have undertaken risk assessments before setting success fees – rather than just applying 100% across the board – the Court of Appeal has ruled.
Solicitors who terminated their retainer “peremptorily” without investigating the circumstances of evidence that might have thrown the case into doubt have lost their claim to £8,000 in fees.
A law firm which stopped acting for a client after she refused to heed its advice to accept an offer to settle her case is entitled to recover the £240,000 in costs due from her under a CFA, the High Court has ruled.
After-the-event insurance premiums must continue to be recoverable in defamation cases, a committee of MPs and peers has told the government.
A law firm, litigation funder, after-the-event provider and insurance broker have teamed up to launch a product to fund claims brought in the Intellectual Property and Enterprise Court.