The end of CFAs – Now is the time to act
With less than a month to go before CFAs (Conditional Fee Agreements) are abolished, and also the ability to insure against the other sides costs and recover the premium on success, time is running out if you want to pursue a claim and recover the CFA uplift on your legal costs from the opposition.
Professional negligence cases have always been well suited to CFAs because of the certainty of recovery if the claim is successful given that Defendants are insurance backed.
With these changes from 1st April it will no longer be possible to do these types of cases (and others) on such advantageous terms for the party bringing the claim.
Therefore, if you have such a claim or believe you might have one and want advice, you should contact a solicitor as a matter of urgency and most certainly before the end of March.
From 1 April it will still be possible to do cases on a CFA basis but the other side will no longer have to pay the costs uplift and insurance premium so these sums will come out of your damages, so the difference could be significant financially. In other words you could end up with less.