Most clients are heavily reliant upon their solicitors to advise them on funding and insurance for commercial disputes, and yet few solicitors are well-placed to provide the kind of up-to-date and comprehensive advice that ensures clients can make a fully informed decision.
Annecto Legal prides itself on offering a professional service to solicitors that are seeking to navigate this complex market place on behalf of their clients.
Litigation is of course risky (even in the most ‘certain’ of cases) and financial risk is often what prevents clients from pursuing legal disputes (as evidenced in Annecto Legal’s research for SMEs available below). By helping clients to mitigate financial risk, solicitors can at the same time make it more likely for clients to use their services.
But is it possible to reduce risks for clients without hugely increasing risks for your legal practice?
Annecto Legal provides solicitors with free help and guidance around retainer options, third party funding and legal expenses insurance, to help lawyers:
- meet their professional obligations to clients;
- use the best funding option for any case;
- ensure that cash flow is maintained, rather than just growing WIP;
- generate new business by actively promoting risk management tools to clients.
As well as one-to-one assistance, Annecto Legal can also give access to the most appropriate funding and insurance products for commercial disputes.
It may surprise many solicitors that not all funding and insurance products are the same!
Annecto Legal works with the leading insurers and funders, as well as those innovative new entrants, to understand, develop and promote a full range of options for commercial disputes.
As a consequence of this work, solicitors can save time (and money) using this professional service to:
- quickly identify the right products for a case;
- assist with applications (the Annecto Legal application process is the most straightforward in the market);
- follow-up with insurers and funders;
- get all applications over the finishing line as quickly and efficiently as possible.
Any solicitors that have attempted to secure funding directly will immediately recognise the benefits of this kind of support, and will be able to see the time and money that this would save fee earners.
In addition to assisting with the process of funding, Annecto Legal’s unique market access also provides solicitors and their clients with market-leading products offering a range of benefits:
- sliding scale returns for funders (so clients may only give away 5% of damages in a quick settlement, but 30% of damages if the case runs to trial, with multiple stages in between);
- solicitors the option to share in the funder’s returns, giving lawyers access to ‘hybrid-DBA’ style returns, without the full DBA risk;
- flexibility to fund cases that don’t offer a simple cash return on successful conclusion (patent cases, for example);
- funding and insurance for cases of £50,000 upwards, not just massive damages claims;
- portfolio funding for multiple (unrelated) cases as well as one-off cases;
- disbursement funding and WIP funding;
- a speedy decision-making process with simple application procedures;
- light touch oversight in funded cases, rather than onerous reporting requirements.
Funding is obviously not the appropriate course in every case, but we know that many clients benefit from transferring risk and costs from their balance sheet, and in some cases the presence of financial backing can encourage settlement (especially when that backing is at a sensible cost to the client).
Why Annecto Legal?
The team at Annecto Legal are happy to take enquiries and provide guidance across all aspects of litigation funding and insurance and we encourage solicitors to explore all options with clients, rather than allow strong cases to fall away or under-settle due to lack of funds.
Annecto Legal SME Research
Download Annecto Legal SME Research (851.4 KiB)
Litigation Protection and Funding - Initial Enquiry
Enquire about litigation protection and funding by downloading the document below.
Download Litigation Protection and Funding - Initial Enquiry (204.1 KiB)