Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay the success fee. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – see below) and will pay your opponent's solicitors' fees andexpenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches has an agreement with DAS to use an insurance policy which they provide for personal injury cases called DAS Law Assist. As such, we can issue you with an insurance policy without having to make an application to the insurer. The policies have agreed fixed premiums depending on the type of case. A further benefit is that the premiums are deferred and insured so if you win the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed with DAS to only offer the LawAssist product for personal injury cases. We are aware of other after the event insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rate. We do not carry out a detailed analysis of the other products available. Our agreement to use this policy enables us to have the benefit of the delegated authority scheme to offer to our clients.
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Samples: www.penningtonslaw.com, www.penningtonslaw.com
Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay the success feefee and possibly, in limited circumstances as described below, a shortfall on our costs. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – see below) and will pay your opponent's solicitors' fees andexpenses and expenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches Xxxxxx has an agreement with DAS Xxxxxx (an industry recognised insurance provider), to use an its ‘Clinical Negligence JAG’ insurance policy policy, which they provide it provides for personal injury clinical negligence cases called DAS Law Assistand has delegated authority to issue those policies. As such, This means that we can issue you with an insurance your policy immediately upon signing the CFA without having to make an application apply to the insurer. The policies have agreed fixed premiums depending on This protects you against liability for any defendant’s costs, and your expenses, from the type outset of your case. A further benefit is that the premiums are deferred and insured so insured. This means that if you win your case the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed there are a number of such insurance products on the market, all of which operate in different ways and with DAS to only offer different formulas for calculating the LawAssist product for personal injury casespremium payable. We are aware of other after the event have decided to use one insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rateprovider, Xxxxxx. We do not carry out a detailed analysis of the other products availableavailable or comparative premiums. Our agreement with Xxxxxx to use this policy enables gives us to have the benefit of the delegated authority scheme to scheme, which we can then offer to our clients.. So, to that extent, we have an interest in using this policy. In your case we are recommending the Clinical Negligence JAG policy because it offers fixed premiums for cover for cases. The certainty of a fixed premium means that you will know your liability to the insurer if you win your case and we think it likely that the premium in your case will be lower than those calculated according to the exposure that the insurer has in the case. Full details of the policy terms and cover are in the client documentation that we will send to you. PREMIUMS PAYABLE Unlike most insurance policies, you do not need to pay a premium when you take out your policy and if you do not win your case, no premium is payable. If your case is successful, the insurance premium becomes due. It is calculated at the end of the case according to the damages that you recover. Insurance premium tax (IPT) is also payable and may be subject to change, depending upon the rate set by the Government. IPT is calculated based upon the applicable rate at the time the premium becomes payable. The premium is divided into two parts:
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Samples: www.penningtonslaw.com
Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay the success fee. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – see below) and will pay your opponent's solicitors' fees andexpenses and expenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches has an agreement with DAS to use an insurance policy policy, ‘LawAssist’, which they provide for personal injury clinical negligence cases called DAS Law Assistand has delegated authority to issue those policies. As such, It means that we can issue you with an insurance your policy immediately on signing the CFA without having to make an application apply to the insurer. The policies have agreed fixed premiums depending on This protects you against liability for any defendant’s costs and your expenses from the type outset of your case. A further benefit is that the premiums are deferred and insured so if you win the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed there are a number of such insurance products on the market, all of which operate in different ways and with DAS to only offer different formulas for the LawAssist product for personal injury casespremium payable. We are aware of other after the event have decided to use one insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rateprovider, DAS. We do not carry out a detailed analysis of the other products availableavailable and comparative premiums. Our agreement to use this policy enables us to have the benefit of the delegated authority scheme to offer to our clients.clients so, to that extent, we have an interest in using this policy. In your case we are recommending the LawAssist policy because it offers fixed premiums for cover for cases. We think that the certainty of a fixed premium means that you know your liability and we think it likely that the premium in your case will be lower than those calculated according to the exposure that the insurer has in the case. Full details of the policy terms and cover are in the client documentation that we will send to you. PREMIUMS PAYABLE Unlike most insurance policies, you do not need to pay a premium when you take out your policy and if you do not win your case, no premium is payable. If your case is successful, the insurance premium becomes due. It is calculated at the end of the case because the premium you pay is calculated according to the damages that you recover. The premium is two parts: Part A - cover for expenses incurred in getting expert reports on breach of duty and causation of damage. This part of the premium is recoverable from the other side – although they can argue about the amount they should pay. However you only have to pay what is recovered from the other side. This is calculated as follows: Expenses incurred pre issue of proceedings – premium = 200% of sum incurred + IPT Expenses incurred after issue of proceedings – premium = 25% of sum incurred + IPT Part B - protects you in relation to all other expenses that you incur – other expert fees, barrister’s fees, court fees etc and protects you if the Court awards costs against you for failing to beat an offer made by the other side. This part of the premium is payable by you out of your damages and is calculated as follows: Case settled prior to issue of proceedings and for up to £10,000: £250 +IPT = £273.75 Case settled prior to issue of proceedings and for less than £100,000: £500 + IPT = £547.50 Case settled prior to issue of proceedings and for more than £100,000: £3,000 + IPT = £3,285 Case settled after issue of proceedings for up to £10,000: £500 + IPT = £552.49 Case settled after issue of proceedings for less than £100,000: £2,000 + IPT = £2,190 Case settled after issue of proceedings for more than £100,000: £12,000 + IPT = £13,140 WHAT DO I PAY IF I WIN MY CASE? Our fees - you are responsible for paying our fees if you win. You will usually be able to claim back most of our fees and the expenses you have paid from your opponent, and we will deal with this for you. We will usually be able to agree with the other side what costs they have to pay. If this is not possible, the court, will decide how much the opponent has to pay. We will not charge you the difference between the costs we incur and the costs that are recovered. Success fee - this is an agreed percentage of our fees that we charge you. To ensure that you retain the majority of your damages we will not take more than 25% of your past losses and compensation for your injury by way of success fee. We will agree the specific percentages with you when we send the CFA. Your disbursements (expenses) – we will pay these for you whilst the case is ongoing but you are responsible for repaying us if you win. You will usually be able to claim back most, if not all of the expenses you have paid from your opponent. You will not however be liable to pay anything unless and until you have succeeded in your claim. Opponent’s costs - if you have won your case, you should not have any responsibility for the other side’s costs. The only situation in which this may be different is if the other side makes you a Part 36 offer to settle your claim which you do not accept and you later fail to do better than that offer. Should that occur, the other side may seek to recover their costs from you after the offer was made. Your insurance policy with DAS will protect you from this provided that we and they advised you to reject that offer. Insurance premium – your insurance premium will only become payable if you win your case and is then payable by you out of your damages. We will advise you of the level of your premium when setting up your CFA. WHAT DO I PAY IF I LOSE MY CASE? Our fees - we will not charge you any fees if we do not win your case. Success fee - if we do not win the case, no success fee is payable. Your disbursements (expenses) - we will pay these for you whilst the case is ongoing but you are responsible for repaying us if you do not win your case. However, your DAS insurance policy will protect you and pay these expenses so that you pay nothing. Opponent’s costs – if you have not won your case, the court rules provide that the other side cannot seek costs from you. Insurance premium – your insurance premium is self-insured and will only become payable if you win your case. FIND OUT MORE For further information or to discuss your potential claim with an experienced solicitor, please contact:
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Samples: www.penningtonslaw.com
Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay the success fee. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – - see below) and will pay your opponent's solicitors' fees andexpenses and expenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches has an agreement with DAS to use an insurance policy which they provide for personal injury cases called DAS Law Assist. As such, we can issue you with an insurance policy without having to make an application to the insurer. The policies have agreed fixed premiums depending on the type of case. A further benefit is that the premiums are deferred and insured so if you win the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed with DAS to only offer the LawAssist product for personal injury cases. We are aware of other after the event insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rate. We do not carry out a detailed analysis of the other products available. Our agreement to use this policy enables us to have the benefit of the delegated authority scheme to offer to our clients. In your case we are recommending the LawAssit policy because it offers fixed premiums for cover for cases. We think that the certainty of a fixed premium means that you know your liability. Full details of the policy terms and cover are in the client documentation that we will send to you. PREMIUMS PAYABLE Unlike most insurance policies, you do not need to pay a premium when you take our policy and if you do not win your case, no premium is payable. We will inform you which premium applies to your case. The following premium rates apply to personal injury cases: Motor Cases Motor premiums are set at the point of policy inception and are fixed. Fast Track Multi Track Portal Pre Issue Pre Issue Motor £75 £150 £900 Non-Motor Cases Non-Motor cases are insured at the inception rate. If they begin as Portal cases they will be increased to the relevant Pre-Issue premium rate (subject to track) should the case progress out of the Portal. Fast Track Multi Track Portal Pre Issue Pre Issue Non-Motor £150 £350 £1500 Trip/Slip £150 £1500 £2500 Industrial Disease £150 £1950 £3000 Mesothelioma £150 £1950 £3000 All premiums exclude Insurance Premium Tax (IPT). This will be added to the policy cost.
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Samples: www.penningtonslaw.com
Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay any shortfall in the costs recovered and the success fee. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – see below) and will pay your opponent's solicitors' fees andexpenses and expenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches has an agreement with DAS to use an insurance policy policy, ‘LawAssist’, which they provide for personal injury clinical negligence cases called DAS Law Assistand has delegated authority to issue those policies. As such, It means that we can issue you with an insurance your policy immediately on signing the CFA without having to make an application apply to the insurer. The policies have agreed fixed premiums depending on This protects you against liability for any defendant’s costs and your expenses from the type outset of your case. A further benefit is that the premiums are deferred and insured so if you win the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed there are a number of such insurance products on the market, all of which operate in different ways and with DAS to only offer different formulas for the LawAssist product for personal injury casespremium payable. We are aware of other after the event have decided to use one insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rateprovider, DAS. We only use this provider and do not carry out a detailed analysis of the other products availableavailable and comparative premiums. Our agreement to use this policy enables us to have the benefit of the delegated authority scheme to offer to our clients.clients so, to that extent, we have an interest in using this policy. In your case we are recommending the LawAssist policy because it offers fixed premiums for cover for cases. We think that the certainty of a fixed premium means that you know your liability and we think it likely that the premium in your case will be lower than those calculated according to the exposure that the insurer has in the case. Full details of the policy terms and cover are in the client documentation that we will send to you. PREMIUMS PAYABLE Unlike most insurance policies, you do not need to pay a premium when you take out your policy and if you do not win your case, no premium is payable. If your case is successful, the insurance premium becomes due. It is calculated at the end of the case because the premium you pay is calculated according to the damages that you recover. The premium is two parts: Part A - cover for expenses incurred in getting expert reports on breach of duty and causation of damage. This part of the premium is recoverable from the other side – although they can argue about the amount they should pay. However you only have to pay what is recovered from the other side. This is calculated as follows: Costs incurred pre issue of proceedings – premium = 200% of sum incurred Costs incurred after issue of proceedings – premium = 25% of sum incurred Part B - protects you in relation to all other expenses that you incur – other expert fees, barrister’s fees, court fees etc and protects you if the Court awards costs against you for failing to beat an offer made by the other side. This part of the premium is payable by you out of your damages and is calculated as follows: Case settled prior to issue of proceedings and for less than £100,000: £500 + IPT = £530 Case settled prior to issue of proceedings and for more than £100,000: £3,000 + IPT = £3,180 Case settled after issue of proceedings for less than £100,000: £2,000 + IPT = £2,120 Case settled after issue of proceedings for more than £100,000: £12,000 + IPT = £12,720 WHAT DO I PAY IF I WIN MY CASE? Our fees - you are responsible for paying our fees if you win. You will usually be able to claim back most of our fees and the expenses you have paid from your opponent, and we will deal with this for you. We will usually be able to agree with the other side what costs they have to pay. If this is not possible, the court, will decide how much the opponent has to pay. We will not charge you the difference between the costs we incur and the costs that are recovered. Success fee - this is an agreed percentage of our fees that we charge you. To ensure that you retain the majority of your damages we will not take more than 25% of your past losses and compensation for your injury by way of success fee. We will agree the specific percentages with you when we send the CFA. Your disbursements (expenses) – we will pay these for you whilst the case is ongoing but you are responsible for repaying us if you win. You will usually be able to claim back most, if not all of the expenses you have paid from your opponent. You will not however be liable to pay anything unless and until you have succeeded in your claim. Opponent’s costs - if you have won your case, you should not have any responsibility for the other case you will be responsible for the shortfall. You will not however be liable to pay anything unless and until you have succeeded in your claim. Insurance premium – your insurance premium will only become payable if you win your case and is then payable by you out of your damages. We will advise you of the level of your premium when setting up your CFA. WHAT DO I PAY IF I LOSE MY CASE? Our fees - we will not charge you any fees if we do not win your case. Success fee - if we do not win the case, no success fee is payable. Your disbursements (expenses) - we will pay these for you whilst the case is ongoing but you are responsible for repaying us if you do not win your case. However, your DAS insurance policy will protect you and pay these expenses so that you pay nothing. Opponent’s costs – if you have not won your case, the court rules provide that the other side cannot seek costs from you. Insurance premium – your insurance premium is self-insured and will only become payable if you win your case. FIND OUT MORE For further information or to discuss your potential claim with an experienced solicitor, please contact:
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Samples: www.penningtonslaw.com
Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay the success fee. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – see below) and will pay your opponent's solicitors' fees andexpenses and expenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches has an agreement with DAS to use an insurance policy policy, ‘LawAssist’, which they provide for personal injury clinical negligence cases called DAS Law Assistand has delegated authority to issue those policies. As such, It means that we can issue you with an insurance your policy immediately on signing the CFA without having to make an application apply to the insurer. The policies have agreed fixed premiums depending on This protects you against liability for any defendant’s costs and your expenses from the type outset of your case. A further benefit is that the premiums are deferred and insured so if you win the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed there are a number of such insurance products on the market, all of which operate in different ways and with DAS to only offer different formulas for the LawAssist product for personal injury casespremium payable. We are aware of other after the event have decided to use one insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rateprovider, DAS. We do not carry out a detailed analysis of the other products availableavailable and comparative premiums. Our agreement to use this policy enables us to have the benefit of the delegated authority scheme to offer to our clients.clients so, to that extent, we have an interest in using this policy. In your case we are recommending the LawAssist policy because it offers fixed premiums for cover for cases. We think that the certainty of a fixed premium means that you know your liability and we think it likely that the premium in your case will be lower than those calculated according to the exposure that the insurer has in the case. Full details of the policy terms and cover are in the client documentation that we will send to you. PREMIUMS PAYABLE Unlike most insurance policies, you do not need to pay a premium when you take out your policy and if you do not win your case, no premium is payable. If your case is successful, the insurance premium becomes due. It is calculated at the end of the case because the premium you pay is calculated according to the damages that you recover. Insurance premium tax (IPT) is also payable and may be subject to change, depending upon the rate set by the government. The premium is two parts: Part A - cover for expenses incurred in getting expert reports on breach of duty and causation of damage. This part of the premium is recoverable from the other side – although they can argue about the amount they should pay. However you only have to pay what is recovered from the other side. This is calculated as follows: Expenses incurred pre issue of proceedings – premium = 200% of sum incurred + IPT Expenses incurred after issue of proceedings – premium = 25% of sum incurred + IPT Part B - protects you in relation to all other expenses that you incur – other expert fees, barrister’s fees, court fees etc and protects you if the Court awards costs against you for failing to beat an offer made by the other side. This part of the premium is payable by you out of your damages and is calculated as follows: Case settled prior to issue of proceedings and for up to £10,000: £250 +IPT Case settled prior to issue of proceedings and for less than £100,000: £500 + IPT Case settled prior to issue of proceedings and for more than £100,000: £3,000 + IPT Case settled after issue of proceedings for up to £10,000: £500 + IPT Case settled after issue of proceedings for less than £100,000: £2,000 + IPT Case settled after issue of proceedings for more than £100,000: £12,000 + IPT WHAT DO I PAY IF I WIN MY CASE? Our fees - you are responsible for paying our fees if you win. You will usually be able to claim back most of our fees and the expenses you have paid from your opponent, and we will deal with this for you. We will usually be able to agree with the other side what costs they have to pay. If this is not possible, the court, will decide how much the opponent has to pay. We will not charge you the difference between the costs we incur and the costs that are recovered. Success fee - this is an agreed percentage of our fees that we charge you. To ensure that you retain the majority of your damages we will not take more than 25% of your past losses and compensation for your injury by way of success fee. We will agree the specific percentages with you when we send the CFA. Your disbursements (expenses) – we will pay these for you whilst the case is ongoing but you are responsible for repaying us if you win. You will usually be able to claim back most, if not all of the expenses you have paid from your opponent. You will not however be liable to pay anything unless and until you have succeeded in your claim. Opponent’s costs - if you have won your case, you should not have any responsibility for the other side’s costs. The only situation in which this may be different is if the other side makes you a Part 36 offer to settle your claim which you do not accept and you later fail to do better than that offer. Should that occur, the other side may seek to recover their costs from you after the offer was made. Your insurance policy with DAS will protect you from this provided that we and they advised you to reject that offer. Insurance premium – your insurance premium will only become payable if you win your case and is then payable by you out of your damages. We will advise you of the level of your premium when setting up your CFA. IPT is also payable upon the premium and may be subject to change, depending upon the rate set. WHAT DO I PAY IF I LOSE MY CASE? Our fees - we will not charge you any fees if we do not win your case. Success fee - if we do not win the case, no success fee is payable. Your disbursements (expenses) - we will pay these for you whilst the case is ongoing but you are responsible for repaying us if you do not win your case. However, your DAS insurance policy will protect you and pay these expenses so that you pay nothing. Opponent’s costs – if you have not won your case, the court rules provide that the other side cannot seek costs from you. Insurance premium – your insurance premium is self-insured and will only become payable if you win your case. FIND OUT MORE For further information or to discuss your potential claim with an experienced solicitor, please contact:
Appears in 1 contract
Samples: www.penningtonslaw.com
Insurance Policy. Under the terms of your CFA, you do not bear any risk of paying any of our costs if you do not win your claim. If you win your claim, you are liable only to pay the success feefee and possibly, in limited circumstances as described below, a shortfall on our costs. However, win or lose, you are responsible for the payment of any disbursements that are incurred in the case and in some circumstances, even if you win (mainly if you fail to ‘beat’ a defendant’s offer to settle your claim), you can end up with a liability for some of the defendant’s costs. Insurance policies are available to protect you against this risk. Under these policies the insurer will usually reimburse you for any expenses if you do not win the case (the defendant will reimburse you if you win – see below) and will pay your opponent's solicitors' fees andexpenses and expenses if you end up with a liability to pay any because you fail to beat an offer made by the defendant. Penningtons Manches Xxxxxx LLP (“we”) has an agreement with DAS Xxxxxx (an industry recognised insurance provider), to use an their ‘Amethyst Gilt-edged’ insurance policy policy, which they provide for personal injury clinical negligence cases called DAS Law Assistand has delegated authority to issue those policies. As such, This means that we can issue you with an insurance your policy immediately upon signing the CFA without having to make an application apply to the insurer. The policies have agreed fixed premiums depending on This protects you against liability for any defendant’s costs, and your expenses, from the type outset of your case. A further benefit is that the premiums are deferred and insured so insured. This means that if you win your case the premium is not payable until you have recovered damages and if you lose you will not have to pay the premium at all. Under our arrangement with the insurer we have agreed that all personal injury cases will be insured through this scheme. Because this spreads the risk for the insurer, it keeps the cost of the premiums down. It also means that we can issue your policy immediately on signing the CFA. This protects you against liability for any defendant’s costs and your expenses right from the outset of your case. We are required to tell you whether we have a financial interest in recommending this insurer and we confirm that we do not. However, we have agreed there are a number of such insurance products on the market, all of which operate in different ways and with DAS to only offer different formulas for calculating the LawAssist product for personal injury casespremium payable. We are aware of other after the event have decided to use one insurance products in the market and believe that the LawAssist product provides the = required protection at a competitive rateprovider, Xxxxxx. We do not carry out a detailed analysis of the other products availableavailable or comparative premiums. Our agreement with Xxxxxx to use this policy enables gives us to have the benefit of the delegated authority scheme to scheme, which we can then offer to our clients.. So, to that extent, we have an interest in using this policy. In your case we are recommending the Amethyst Gilt- edged policy because it offers fixed premiums for cover for cases. The certainty of a fixed premium means that you will know your liability to the insurer if you win your case and we think it likely that the premium in your case will be lower than those calculated according to the exposure that the insurer has in the case. Full details of the policy terms and cover are in the client documentation that we will send to you. PREMIUMS PAYABLE Unlike most insurance policies, you do not need to pay a premium when you take out your policy and if you do not win your case, no premium is payable. If your case is successful, the insurance premium becomes due. It is calculated at the end of the case according to the damages that you recover. Insurance premium tax (IPT) is also payable and may be subject to change, depending upon the rate set by the Government. IPT is calculated based upon the applicable rate at the time the premium becomes payable. The premium is divided into two parts:
Appears in 1 contract
Samples: www.penningtonslaw.com
