Tag referral fees - Lloyds syndicates - 20th February 2007

 

Lloyds insurer syndicates embroiled in the fall out resulting from The Accident Groups collapse, have decided to seek a recovery of any referral fees paid to TAG by solicitors. The fees were part of the "package" offered by TAG and are deemed to be potentially against Law Society rules. The fees were known as "investigation fees".

 

The Law Society does not favour referral fees in certain circumstances. It remains a matter of debate as to whether the TAG referral fees were "illegal" in this context. Source - LAW SOCIETY GAZETTE

 

The Accident Group (TAG) went bust in 2003 and many solicitors who received regular work from them became heavily involved in the counter litigation that followed the collapse. TAG famously sent notice of redundancy to staff by text message.

 

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