A consortium of high street law firms is extending PI-style ‘no-win, no-fee’ litigation to commercial clients.
Caresso Law, which launched at the beginning of August, currently consists of PI firm Hudgell Solicitors, Manchester-based Clear Law, Bolton-based MRH Solicitors and Kent-based Net Solicitors.
Billed as a “completely new, ‘fully funded’ litigation service that comes with automatic, deferred and contingent ‘day one’ insurance”, the business aims to build a roster of around ten firms, which will cover commercial litigation, professional negligence, personal injury and clinical negligence.
The commercial after-the-event insurance policy is underwritten by ARAG exclusively for Caresso Law, while the consortium itself is managed by media agency Eightfooted.
Eightfooted CEO Lee Jones said: “Our research clearly shows that the legal services market in the UK is ripe for change, in both operational and commercial terms”.
ARAG underwriting and marketing director David Haynes said: “ARAG is dedicated to extending access to justice to those who might not otherwise be able to afford it and we are always keen to work with organisations that offer something new to help deliver that.
“Many individuals and smaller businesses with well-founded claims are prevented from pursuing their legal rights because they cannot fund their case. Caresso Law is offering an entirely new solution that will reduce both the risk and cost of seeking justice.”
Reportedly, at least one firm in the Caresso consortium will cover low-value personal injury claims following next April’s reforms....