27 February, 2009
Filed UnderLegal Costs
In a previous posting I reported some good news for personal injury lawyers and, in due course, law costs draftsmen and other costs professionals in the announcement that clinical negligence claims were predicted to increase.
Similar good news comes in a survey conducted by legal recruiters ASA, carried out among law firms. Only 18% expected the economic downturn to adversely affect them, with 46% expecting work to increase. One partner was reported as commenting: "people are always more likely to claim when money is tight".
Further, in the current edition of Litigation Funding, Peter Smith, managing director of ATE insurer FirstAssist, was quoted as reporting a 40% increase in the past few months in the number of professional negligence cases it had funded. He stated: "Everything suggests that if you are unhappy with work that's been done, then you might fight harder trying to obtain recompense during the credit crunch".
In the next 12-24 months, costs draftsmen and costs consultants can expect to see an upturn in work. So long as contingency fees haven't been introduced first.