50 Predictions: Property
The application of proportionate remedies to liability claims under the Insurance Act is going to cause many practical issues… Insureds are likely to…
In the claims environment legal costs can often outweigh the value of the claim itself. Therefore it is in the client's interest to not only minimise the amount paid in damages, but also limit the amount paid in costs. We support our clients in challenging third party costs and recovering costs when successful in litigation, thereby maximising savings and minimising their overall spend.
We have a specialists Cost team based in Birmingham, who are experts in third party cost management, strategic projects, recoveries and cost budgeting.
Our key aim is to reduce the amount a client will pay in costs and do this in a cost effective way.
80% of our lawyers act for specific clients. This enables our lawyers to immerse themselves into the claims philosophy, working practices and SLAs of the client. We are advocates for working in designated teams so we can learn about our clients' needs and challenges, but ultimately be seen as an extension of that team and adaptable on the delivery of value add.
Our average cycle time on challenges are within 50 days, and on recoveries we prepare a Bill of Costs within 21 days of receipt. We are the best performing panel member for one of our major clients and regularly exceed KPI's in savings, cycle times, volume of settlements and indemnity spend.
We strive to maintain and enhance our relationship with our clients through cost-effective, quality service delivery in line with their business needs. We are also happy to provide free training and keep our clients updated on changes to the law.
We have a bespoke case management system and dedicated software to streamline the cost processes. And we will provide MI with regular updates to allow our clients to monitor our progress.
Third Party Challenges. The key features of our structure include:
In addition to having sub-teams, which mirror our clients' structures, our more experienced lawyers deal with project cases. This usually involves: