The after the event (ATE) insurance sector has highlighted a problem area that has serious implications for both brokers and insurers.
It is claimed that the issue of 'speccing' - when a solicitor fails to insure the outcome of a personal-injury case taken on a conditional fee agreement (CFA) because they are confident of the outcome - is undermining the already fragile ATE market.
Peter Dobie, underwriting manager at Allianz Cornhill, said he believed speccing was opening up both the solicito
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