No Win No Fee: How Does it Work?

Work accidents have greatly reduced in number over the last 15 years but are still quite prevalent in fields such as nursing, maintenance employment, construction work, etc. According to a news release published by the Bureau of Labor Statistics on November 4, 2020, the total number of workplace injuries among 100 full-time employees remained unchanged compared to 2019, at 2.8. work accident If you experience an at the workplace or due to a direct result of your employment, you’re entitled to a worker’s compensation program, which includes work accident claims. This seems pretty straightforward, but the related high legal costs deter a lot of the injured workers from filing accident claims. The “no win no fee” policy was introduced to solve the dilemma of the injured workers to provide them a fair chance of compensation even if they don’t have any available funds for the upfront payment of legal fees. In the case of accident claims, many solicitors offer to take up the claim following the “no win no fee” policy. If a “no win no fee” solicitor does not win the case for you, you are not liable to pay the legal fees to the solicitor. The solicitor covers all legal aspects of your claim under such an agreement, taking the risk of failure and not receiving the processing fees. In return for the possible risk, there is a success fee associated with the case if the claim is approved. Under the “no win no fee” policy, you enter a conditional fee agreement with your solicitor. This is a binding written legal document that enlists the details of the agreement between the claimant and the legal representative. As per the agreement under the said policy, you’re not liable to pay the legal fees to your solicitor if the claim is not approved and the compensation isn’t awarded. If the claim is approved, a previously agreed percentage of the awarded compensation is offered to the solicitor. Before signing the agreement, it is always advised to study it thoroughly and ask the solicitor about the percentage of the compensation received and any other details that could be of relevance to the claim. work accident

What to Expect When Filing a Claim

It is important to file for an accident claim as soon as possible after the work accident as time is of the essence in these cases. When you contact the solicitor of your choosing, the legal representative will go over each and every detail of your case before signing an agreement with you. Mostly, solicitors take up a claim if it has significant chances of being decided in your favor as they are the ones taking the risk of failure. The claimant has nothing to lose here, relatively speaking, as they are not liable to pay the legal fees to the solicitor in case the claim isn’t approved. When filing a claim with a “no win no fee” solicitor, it is important to disclose the details pertaining to the accident as an accident claim is largely subject to the state laws and the compensation policy your employer is offering. After the necessary scrutiny, the legal representative will discuss the details of the conditional fee agreement with you if they decide to take your case and take care of all the legalities of the claim. If the claim is approved, the solicitor is entitled to a percentage of the compensation that was mutually agreed upon by the claimant and the solicitor in the conditional fee agreement. The majority of the legal costs of the law firm are compensated by insurance policies. If a claim is not approved, the payment to be made to the law firm depends on the conditional fee agreement. If the claimant agreed to pay the court costs and other miscellaneous expenses during the course of the claim, they would have to bear those expenses. The solicitor is not entitled to their processing fee as part of a “no win no fee” agreement.

Typical Compensation

Generally, solicitors agree upon 25% of the claim compensation as the success fee for a claim. This is subject to change depending on the solicitors, the case, and the state laws. Some solicitors may offer their services for lesser compensation, but other expenses may be included in the agreement. It is of great importance to thoroughly study the agreement and read the fine print before signing to know if there are other expenses instead of the processing fee that you are being held accountable for.