Accountants predict rise in broker M&A
Legal changes affecting the UK motor insurance market will lead to an increase in mergers and acquisition (M&A) activity among brokers, law firms and claims management companies, according to Deloitte.
The business advisory firm highlighted that the Legal Aid Sentencing and Punishment of Offenders Act (LASPO) 2012 was due to be implemented in April 2013 and introduces a series of reforms including the banning of referral fees in personal injury cases.
The law change will also cause the abolition of success fees and introduce a 25% cap on fees in personal injury cases.
According to the accountants the changes will mean significantly less revenue for a number of personal injury law firms and
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