The Fraud Investigation and Recovery Scheme (FIRS) is predicated on recovering losses as result of fraud with minimal outlay and absolutely no cost to you if the action is successful. It revolves around the willingness of solicitors to enter into Conditional Fee Agreements (CFAs) and the availability of After-the-Event (ATE)  insurance cover for Adverse Costs

In the case of FIRS, we are working with solicitors, Lamport Bassitt who have access to, and administration rights for,  the legal expenses scheme underwritten by FirstAssist Legal Protection.

The scheme has some beneficial features that have only recently been available for legal expense schemes. 

These include;

This scheme means there is virtually no risk for anyone perusing a fraud matter that meets the criteria of the scheme and ensure that justice can be done.

* Certain exceptions may apply.

The FIRS Process

An initial meeting takes place to establish the nature and size of the alleged fraud.

An preliminary investigation is undertaken to provide Lamport Bassitt with sufficient information to make a judgement on the viability of the case, and whether it meets the criteria for the ATE policy. Larger cases may be referred to FirstAssist.

A  basis for the policy premium is established. This is linked to the chance of losing the case (not less than 40%) and the size of your liability in the event that you loose the case. This formula has been established after testing in the Supreme Court Cost at the High Court. 

A CFA agreement pursuant to Section 58 of the Courts and Legal Services Act 1990 is made with Lamport Bassitt. The investigation and the process of recovery can then start in ernest.

The scheme only covers cost directly related to your action.  Your solicitor’s professional fees in connection with such matters as advising you on the proper and legal dismissal of the employee involved may not be covered

For more information contact us