Tag Results
Personal injury CMCs enjoy sharp rise in income to £310m as market stabilises
Tuesday, 14 July 2015The turnover of personal injury claims management companies (CMCs) bounced back 27% to £310m last year as the market began to “stabilise”, it has emerged. Applications by personal injury CMCs for authorisation from the Ministry of Justice also increased by almost two-thirds.
Tags: claims management companies, CMC, personal injury, referral fees
Posted in Latest news, Regulation
“Ignorance of new rules is no defence”, ministry tells CMCs
Wednesday, 1 October 2014Ignorance of the rules is no defence where there have been breaches, the Ministry of Justice (MoJ) has told claims management companies (CMCs) in guidance notes for a new set of rules which come into force today.
Tags: claims management companies, CMC, personal injury
Posted in Latest news, Regulation
Division of claims complaints costs unfair, says First4Lawyers
Monday, 9 June 2014The Ministry of Justice proposals on how the Legal Ombudsman’s costs for handling complaints against claims management companies are recovered disproportionally penalises those working in personal injury, a leading marketing collective has argued.
Tags: claims management companies, CMC, Legal Ombudsman, LeO, personal injury
Posted in Latest news, Legal Ombudsman
NAH goes public and outlines major growth ambitions
Friday, 30 May 2014Trading in shares in National Accident Helpline (NAH) began on AIM yesterday as it emerged that Minster Law – the major claimant practice owned by insurance group BGL – is taking 15% of potential clients the company receives.
Tags: claims management companies, CMC, personal injury
Posted in Latest news, Market monitor
CMCs continue to deluge Financial Ombudsman with PPI complaints
Wednesday, 21 May 2014The message that consumers do not need to use claims management companies to make complaints about mis-sold payment protection insurance is not getting through, the Financial Ombudsman Service admitted yesterday.
Tags: claims management companies, CMC, PPI
Posted in Latest news
Underdog no more – National Accident Helpline targets £100m AIM float
Wednesday, 30 April 2014Leading claims management company National Accident Helpline Limited has announced its intention to float on AIM, in a move which it hopes will value the business at £100m. The IPO is expected next month.
Tags: claims management companies, CMC, personal injury
Posted in Latest news, Marketing & PR
Government to give claims regulator power to fine firms
Tuesday, 12 November 2013Claims management companies are for the first time to face the prospect of fines for poor conduct such as spam texts, the government announced today as part of a series of measures aimed at toughening up their regulatory regime.
Tags: claims management companies, CMC, personal injury
Posted in Latest news
CMC numbers slump as referral fee ban hits home
Tuesday, 5 November 2013The number of claims management companies has fallen by nearly a quarter since the introduction of the referral fee ban and prohibition on offering inducements, new figures have shown.
Tags: claims management companies, CMC, personal injury
Posted in Latest news, Other lawyers
SRA issues referral fee warning notice to PI firms
Friday, 18 October 2013The Solicitors Regulation Authority has issued its first warning notice over the way personal injury firms are dealing with the referral fee ban. It highlights concerns that some solicitors are so busy ensuring they do not breach the ban that they are failing to consider their wider professional duties.
Tags: claims management companies, CMC, personal injury, referral fee ban, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Revealed: Legal Ombudsman puts 10% of staff at risk of redundancy
Thursday, 25 July 2013The Legal Ombudsman has put around 10% of its staff at risk of redundancy as it undertakes a restructuring brought about by receiving fewer complaints than expected. It has been exacerbated by difficulties in transferring over the handling of complaints about CMCs.
Tags: claims management companies, CMC, Legal Ombudsman, Legal Services Board, LeO, personal injury
Posted in Latest news, Legal Ombudsman, Legal Services Board