We cannot tell you at this stage how likely it is that your claim will be successful. What we can say is that our panel of solicitors will only take your claim on if they think that your policy gives you a better chance than not of making a claim. Once they take your claim on they will be working on a no win, no fee basis, therefore, they’re only taking claims on where they think there is more than a 50% prospect of success.
No Win, No Fee is a term used to describe an agreement between a Solicitor and a Claimant. It states that in this instance, the Claimant cannot be charged if their Business Interruption insurance claim is unsuccessful.
However, if your case is successful the solicitor may take up to 25% of the compensation awarded, although this will be subject to your individual circumstances and the actual fee may be more or less than this.
In some circumstances the solicitor may wish to insure the case with an “after the event” insurance policy, this will be done on a case by case basis.
In the circumstances where a Claimant cancels an agreement outside of the ‘cooling off’ period or is not co-operating, they could be charged a fee that is reasonable in the circumstances, reflecting the work undertaken by the Solicitor.