Application Fees

1. Where a direct approach has been made to insurers/funders or another broker

We are paid by whichever insurer or funder our client ultimately accepts an agreement with, which will usually be from whichever option proves to be the most competitive offer for the client.
This means our remuneration is contingent upon our sourcing the funding/insurance but is also typically contingent upon the case proving successful i.e. since the funders and insurers are usually only paid if the case succeeds, so too is our commission.

Because we do not charge any application fee to the client we need to ensure we have a clear run to approach whichever insurers or funders we believe are most suitable for the case in question. Were clients to pick and choose which markets they approach directly, our team could end up doing significant work without a return.

Similarly, where a case has already been rejected by a funder/insurer and is then later presented to us, the chances of securing offers can diminish i.e. because any subsequent funders/insurers will want to know if the case has already been rejected elsewhere.

Remuneration aside, it can become incredibly cumbersome for engaged lawyers to deal with the various responses coming from different directions and can often lead to duplication and therefore cost. For this reason we prefer to manage the whole process and ensure a streamlined and organised approach.