§ Sir Nicholas LyellTo ask the Minister of State, Lord Chancellor's Department what estimate he has made of the increased costs of litigation which will arise from the right of lawyers providing representation, pursuant to conditional fee agreements to uplift their costs by up to 100 per cent. in successful cases. [65671]
§ Mr. HoonAs the right hon. and learned Gentleman is aware, the maximum uplift allowed in a conditional fee agreement was set at 100 per cent. by his noble and learned Friend Lord Mackay of Clashfern in 1995 in the Conditional Fees Order 1995. I am not aware of any assessment that was made at that time or before the figure was set. We shall be undertaking research and monitoring into the operation of conditional fees and to that end my officials have already begun discussing with the profession and other consumer and interest parties what form this research and monitoring may take.
§ Sir Nicholas LyellTo ask the Minister of State, Lord Chancellor's Department how many firms of insurers(a) from the United Kingdom and (b) from overseas have come forward with products to provide legal fees insurance under conditional fee agreements; and if he will list them. [65672]
§ Mr. HoonAs I told the hon. Member for North Shropshire (Mr. Paterson) on 3 November 1998,official report, column 675, insurance products to underpin conditional fee agreements have been available since July 1995 when conditional fee agreements first became lawful. It is an ever expanding market with new products coming into the market all the time. I am aware of at least eight providers of insurance to underpin conditional fees. I doubt that a comprehensive list exists or can be put together given the vibrant and expanding nature of this market.