A LEADING firm of Scottish solicitors has backed a prediction this week by independent market analysts Datamonitor that, as a result of impending government legislation, three-quarters of the UK’s ‘no win no fee’ accident claims firms could soon close their doors.
[UKPRwire, Tue Apr 18 2006] A LEADING firm of Scottish solicitors has backed a prediction this week by independent market analysts Datamonitor that, as a result of impending government legislation, three-quarters of the UK’s ‘no win no fee’ accident claims firms could soon close their doors.
Solicitors at the Accident & Injury Claims Centre of Ayr who are specialists in compensation claims agree that the introduction of the Compensation Bill in 2006 and the subsequent requirement for accident intermediaries to become authorised will lead to a strong contraction in the number of accident intermediaries in operation.
Datamonitor estimates that, post-regulation, there will be approximately 100 to 150 providers left down from a current level of approximately 400.
“Many intermediaries are relatively casually run, transitory companies. The administration and cost of becoming authorized will therefore result in many of these companies exiting the market,” comments Andrew Birkett, Financial Services Analyst at Datamonitor, and author of the report.
Ayrshire firm of solicitors Accident & Injury Claims Centre has supported the impending legislation since it was first mooted.
Senior partner and solicitor Norman Geddes said today: “We welcome the potential impact of the Compensation Bill, but would also stress the desirability of claimants consulting solicitors from the outset.
“We solicitors are already highly regulated through the relevant Law Society in each part of the UK.
“Moreover, in the majority of cases, claims companies simply pass the case on to a solicitor, so it would be better for the claimant to cut out the unnecessary and superfluous middleman and consult a solicitor direct from the outset.”
The Compensation Bill will provide the statutory framework for the regulation of claims management services. The Bill will allow for the Secretary of State for Constitutional Affairs to designate a regulator who will be responsible for ensuring that claims management companies abide by clear rules and a code of practice. A person providing claims management services without the requisite authorisation ( or if exempted or subject to a waiver ) will be committing an offence and liable to a maximum of up to 2 years imprisonment. Those providing claims management services will be required to give consumers clear advice about the validity of their claim, options for funding the costs and provide a complaints mechanism if things go wrong.
ACCIDENT & INJURY CLAIMS CENTRE
The Accident & Injury Claims Centre is part of Frazer Coogans Solicitors of Ayr in Scotland.
ABOUT FRAZER COOGANS SOLICITORS
Ayrshire solicitors Frazer Coogans have expanded rapidly from small beginnings in the 1980s to offer a friendly and personal service to all clients from their modern premises in Ayr town centre.
From their Ayr base, partners Norman Geddes, Austin Thomson, Lauren Fowler and assistants Stuart Paterson and Peter McNamara - all experienced solicitors - along with their professional and dedicated staff, provide a comprehensive suite of legal services to Ayr, Ayrshire, Scotland and the UK, with particular expertise in accident claims, personal injury damages, property conveyancing, divorce and family law, wills, estates and executries.
Frazer Coogans’ Ayr office operates a specialist Accident Claims & Personal Injury Damages Centre to assist clients in making claims for personal injury damages after road traffic, workplace, slip and trip accidents and also in criminal injuries compensation.
This Ayrshire firm of solicitors has also established a significant presence in Scotland’s property conveyancing market, advising clients on all aspects of buying, selling and leasing premises both domestic and commercial, and handling property conveyancing for diverse clients across Scotland.
Scottish divorce and family law is another area in which Frazer Coogans solicitors possess particular expertise, advising on the legal, financial and child related issues associated with divorce, providing negotiation for amicable settlement and undertaking litigation where needed.
Frazer Coogans solicitors also offer a professional, dedicated and sympathetic service for wills and estates in the UK, including the administration of estates and appointing executors.
In 2003 Frazer Coogans successfully attained the "Investors in People" standard.
The firm is fully computerised with Broadband connection. It occupies modern premises in the centre of Ayr with adjacent parking for clients and wheelchair-friendly access.
Issued on behalf of Frazer Coogans Solicitors / Accident & Injury Claims Centre by Fame Publicity Services.
Norman G Geddes
Frazer Coogans Solicitors / Accident & Injury Claims Centre
46 Dalblair Road
AYR KA7 1UQ