- Thursday, 11 October 2012
We kind of all knew it anyway, but just how much money a large insurance company like the Direct Line Group makes from referral fees still took my breath away. As we reported earlier this week, the group received £110m from solicitors in the three and a half years since January 2009. Call it £30m a year and extrapolate (the group’s market share is 19% of motor and 18% of home insurance) and you are looking at around £150m a year going from the pockets of solicitors to insurance companies for the privilege of receiving cases. And that’s before the £100m or so insurers make every year from credit hire referral fees.
Tags: claims management companies, referr
Posted in Blog
As we look towards the end of 2021 and at how the Bar has adapted to the harsh realities of the pandemic, the question beckons as to what the future holds.
The global coronavirus pandemic, and the rise in people working from home, has unfortunately provoked a growth in cyber-crime. The UK government estimates that the cost of cyber-crime is £27bn per annum.
When does an after-the-event insurance policy provide adequate security for a defendant’s costs? The short answer is that it very much depends on the wording of the particular policy.