In Motor vehicle accident claims where liability is admitted, the legal costs payable by the CTP Insurer are regulated. This means that the amount the CTP Insurer has to pay towards your legal costs will not be determined by the amount of legal work necessary to bring your case to a conclusion. Rather the amount the CTP Insurer has to pay towards your legal costs will depend to a large extent on the value of your claim.
The higher the value of your claim the more the CTP Insurer will generally speaking have to pay towards your legal costs. The amount the CTP Insurer has to pay towards your legal costs is often referred to as “Party/Party” costs.
Solicitor/Client costs are the actual costs your lawyer charges you and this is based on the amount of time and work it takes to bring your case to a conclusion, and the terms of the Cost Agreement you have entered into with your lawyer.
Where liability is denied by the CTP Insurer, legal costs are not regulated. This means that generally speaking they may have to pay a much larger proportion of your Solicitor/ Client costs if you ultimetly succeed in your action against them.
Clients are often anxious about how much they may have to pay in legal costs and Catherine McKay understand this. This is why at McKay Compensation Lawyers, legal costs are capped in motor vehicle accident claims where liability is admitted and where the claim resolves for less than $100,000.00. This means that no matter how much work is needed to be done to bring your matter to a satisfactory conclusion, you will have the peace of mind of knowing that your legal costs will not exceed the capped amount. ALSO since 1 November 2016 Solicitor/Client costs ARE NOT payable in matters where the total value of the claim including legal costs is less than $50,000.00.
When you first meet with your lawyer Catherine McKay, she will provide you with a Cost Agreement and will explain it to you in simple language so you can feel confident that you will only ever be paying legal costs that are fair and proportionate to the amount of compensation you ultimately receive.
All Motor Vehicle Accident Claims are accepted by McKay Compensation Lawyers on a NO WIN NO FEE basis.