Using the online tool, claims handlers can instantly calculate the fixed legal costs that will be payable as a claim progresses through the different stages of the civil court process, so as to identify the appropriate strategy to reduce their indemnity spend. The tool also provides users with an indication of the 'complexity' bracket that a claim is likely to fall into.
"Our FoReCast tool calculates all costs permutations, giving clients a simple, digital means of quickly costing different strategies for a claim and so choose the best solution for keeping their indemnity spend down," explains DACB's Head of Costs, Adam Burrell. "By inputting a minimal amount of information, users obtain the costs information they need to carry out a cost/benefit analysis of taking a case to trial by setting out the cost of each stage of the claims process."
The new tool is the latest addition to DACB's growing support package of interactive training materials, precedent documents and Q&As, accessed via a bespoke microsite, that explain the new FRC rules and their implications. Described as the most radical change to civil litigation in over a decade, the extended FRC rules were introduced to drive efficiencies in how claims up to £100,000 are handled.
