Conditional Fee Agreements in personal injury cases
This is a form of funding for accident claims.
This is an arrangement where you and your solicitor agree that you will only have to pay your solicitor's costs under certain circumstances. This is usually only when you win your case.
You will be expected to take out insurance under this arrangement known as "after the event insurance". You pay a one-off premium. If you lose your case the insurance company will pay any costs that you owe to your opponent and any costs you have had to pay to third parties, such as medical experts. You or the insurance company will not have to pay your solicitor's costs.
If you win however your solicitor can charge their normal fee plus a "success fee", this can be as much as 100% on top of their normal fees.