UK Personal Injury Market 2017 - IRN Legal Market Briefng 2017
This provides an overview of the UK personal injury and clinical negligence markets.
EXECUTIVE SUMMARY
Introduction
Market Characteristics
Political and economic forces shape the market
As do business, social and technical developments
The key legislative changes
The market: rising value work contrasts with declining work volumes
The future may not be too bright
INTRODUCTION
Definition
Abbreviations
MARKET STRUCTURE
The Main Types of Personal Injury Work
Four main market participants
The number of solicitors and legal companies
The number of claims management companies declines
POLITICAL AND ECONOMIC MARKET DRIVERS
The Jackson Report defines the new legal framework for PI and CN cases
LASPO puts Jackson into practice and marks a watershed for the PI market
Jackson reforms, Mark II
Some PI cases will move to the online court for small claims
Other moves to look at and control costs in PI and CN cases
Personal injury vs repair costs in motor insurance claims
Moves to limit medical negligence costs
Court fees rise
The Government reforms claims reporting and medical evidence
The Ogden Rate
Stronger regulation of CMCs
Nuisance calls remains a key concern
The DoH rapid resolution and redress scheme (RRR)
BUSINESS, SOCIAL AND TECHNOLOGICAL MARKET DRIVERS
PI imposes major financial, emotional and lifestyle costs on consumers
The number of road traffic accidents in decline
Employers (but not employees) report that workplace injuries are declining
The number of serious workplace injuries is also in decline
Just over 30,000 cases related to criminal injuries
Cost budgeting becomes of crucial importance
THE KEY PLAYERS
Overview
Admiral Group PLC (Admiral Law Ltd/BDE Law)
Bolt Burden Kemp
Bott & Co Solicitors Ltd
Express Solicitors Ltd
First4Lawyers
Fletchers Solicitors
Neil Hudgell Ltd
InjuryLawyers4u
Irwin Mitchell Group
Leigh Day
Minster Law Ltd/BHL (UK) Holdings
NAHL Group/National Accident Helpline Ltd
Redde/NewLaw Solicitors/ Principia Law
Simpson Millar LLP
Slater and Gordon Group
Stewarts Law LLP
Thompsons Solicitors LLP
MARKET SIZE AND TRENDS
A market valued at almost £4 billion
CMCs a declining force in the market
The volume of cases registered with the CRU declines
Over £300 million recovered
Number of PI claims heard in court declines in 2016
Expenditure on NHS CN claims rises strongly
Claims Portal figures
THE FUTURE
Less PI work
Potential changes to motor insurance rules
New PI rules could cause a reduction in law firm numbers
Legal expensive insurance to fill the gap
More links between barrister and solicitors in PI work
Market Forecasts
PI Practitioner Survey
ASSOCIATIONS
Introduction
Market Characteristics
Political and economic forces shape the market
As do business, social and technical developments
The key legislative changes
The market: rising value work contrasts with declining work volumes
The future may not be too bright
INTRODUCTION
Definition
Abbreviations
MARKET STRUCTURE
The Main Types of Personal Injury Work
Four main market participants
The number of solicitors and legal companies
The number of claims management companies declines
POLITICAL AND ECONOMIC MARKET DRIVERS
The Jackson Report defines the new legal framework for PI and CN cases
LASPO puts Jackson into practice and marks a watershed for the PI market
Jackson reforms, Mark II
Some PI cases will move to the online court for small claims
Other moves to look at and control costs in PI and CN cases
Personal injury vs repair costs in motor insurance claims
Moves to limit medical negligence costs
Court fees rise
The Government reforms claims reporting and medical evidence
The Ogden Rate
Stronger regulation of CMCs
Nuisance calls remains a key concern
The DoH rapid resolution and redress scheme (RRR)
BUSINESS, SOCIAL AND TECHNOLOGICAL MARKET DRIVERS
PI imposes major financial, emotional and lifestyle costs on consumers
The number of road traffic accidents in decline
Employers (but not employees) report that workplace injuries are declining
The number of serious workplace injuries is also in decline
Just over 30,000 cases related to criminal injuries
Cost budgeting becomes of crucial importance
THE KEY PLAYERS
Overview
Admiral Group PLC (Admiral Law Ltd/BDE Law)
Bolt Burden Kemp
Bott & Co Solicitors Ltd
Express Solicitors Ltd
First4Lawyers
Fletchers Solicitors
Neil Hudgell Ltd
InjuryLawyers4u
Irwin Mitchell Group
Leigh Day
Minster Law Ltd/BHL (UK) Holdings
NAHL Group/National Accident Helpline Ltd
Redde/NewLaw Solicitors/ Principia Law
Simpson Millar LLP
Slater and Gordon Group
Stewarts Law LLP
Thompsons Solicitors LLP
MARKET SIZE AND TRENDS
A market valued at almost £4 billion
CMCs a declining force in the market
The volume of cases registered with the CRU declines
Over £300 million recovered
Number of PI claims heard in court declines in 2016
Expenditure on NHS CN claims rises strongly
Claims Portal figures
THE FUTURE
Less PI work
Potential changes to motor insurance rules
New PI rules could cause a reduction in law firm numbers
Legal expensive insurance to fill the gap
More links between barrister and solicitors in PI work
Market Forecasts
PI Practitioner Survey
ASSOCIATIONS
