The after the event division of the DAS UK [1] group announces that they have entered into a new arrangement with specialist lender for the legal profession, Novitas, to provide solicitors with ATE insurance and funding for disbursements in clinical negligence cases.
The funding is via consumer credit agreement loans which are protected by a DAS LawAssist ATE insurance policy. Clients have no upfront costs and only repay the loan amount and simple interest charged out of any damages they receive.
Richard Whale, ATE sales manager at DAS LawAssist: “Since the introduction of LASPO in April 2013 the effects of the court fees increase and delays in case settlement have all impacted on cash-flow to the extent firms can now be carrying hundreds of thousands, if not millions of pounds of disbursements in clinical negligence cases on behalf of claimants.
The partnership with QLP and Novitas came about after our own panel of solicitors came to us asking for a funding solution. The relationship provides solicitors with a proven funding solution and a first class ATE product.”