By Peter Morgan, Senior Underwriter
(Estimated reading time: 1 minute 33 seconds)
When it comes to your client’s personal injury claim, at some point you will need to obtain medical evidence – either through direct instruction with the expert themselves or via a medical agency. Whichever option you choose, each will come with their own pros and cons. Here we take a look at recent developments and offer a ready-made answer.
A number of agencies will provide a deferred payment scheme, where settlement of the invoice will be made upon receipt of the disbursement costs from the Defendant. Of course, with instructions through a medical agency, an uplift is included in the cost of instructing the necessary expert.
Unfortunately, the recent decision of Deputy District Judge Akers in Powles v Hemmings to rule that these additional medical agency costs are already included within the fixed costs regime, and therefore not recoverable from the Defendant. This leaves firms in a difficult position with the outstanding balance.
Temple Funding alleviates this risk by providing disbursement funding up front for any claim with a Temple ATE policy in place. This allows firms to avoid panel experts and instruct the most suitable expert directly without the additional agency fees or the risk of these not being met by the Defendant. However, the use of medical agencies will still work, but the uplift for the privilege of deferred payments would be extinguished.
Our disbursement funding is fully integrated into the Temple Online Policy System, along with our ATE policies making the process of applying for funding and making drawdowns quick and easy.
With one of the most competitive interest rates available, now is a good time to consider the benefits to both yourselves and your clients.
If you would like any additional information or would like to explore Temple Funding further, please contact our Senior Underwriter Peter Morgan via email (firstname.lastname@example.org) or via telephone (01483 514800) to start the journey towards your funding solution.
Peter Morgan, FCILEx
Peter has been at Temple Legal Protection since September 2011 having previously worked for a national law firm and insurer giving him valuable experience in both Claimant and Defendant work.
Peter is a Senior Underwriter within the Personal Injury and Clinical Negligence team and is responsible for assessing risks along with the day to day management of delegated authority schemes.
He is also available to help with any underwriting questions to ensure customers are getting the best of their ATE and funding products.
He is currently studying with CILEX to qualify as a Chartered Legal Executive which he will use to further develop his knowledge and expertise.
Read articles by Peter Morgan, FCILEx