‘Ambulance chasers’ in the crosshairs as claims industry faces scrutiny

cityam04-02

Legal regulator has growing concerns about high-volume consumer claims sector As London’s legal scene gets more litigious, creeping closer to the American ‘sue everything’ culture, so-called ambulance...

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He had previously warned consumers that if they did, they could lose over 30 per cent of any ","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","LU0971096721.USD":"富达环球金融服务 A","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","FCA":"First Trust China AlphaDEX Fund","LU0149725797.USD":"汇丰美国股市经济规模基金","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4006":"钢铁","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU0882574139.USD":"富达环球消费行业基金A ACC","CMC":"美国工商五金公司","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD"},"translate_title":"索赔行业面临审查，“救护车追逐者”成为焦点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FCA":1,"CMC":1},"content_text":"Legal regulator has growing concerns about high-volume consumer claims sector As London’s legal scene gets more litigious, creeping closer to the American ‘sue everything’ culture, so-called ambulance chasing claims firms are starting to appear in the headlines – for the wrong reasons.The Financial Conduct Authority (FCA)’s chief executive, Nikhil Rathi, has been critical of claims management companies (CMC) or similarly specialised law firms throughout the City watchdog’s review of the motor finance redress scheme.So much so that he roped in the legal regulator, Solicitor Regulator Authority (SRA), last year to address the heavy marketing these kinds of firms were engaged in – long before the significant Supreme Court ruling was even handed down.When the City regulator revealed its long-awaited redress scheme earlier this year, Rathi said, “There is no need to use a claims management company or a law firm”. He had previously warned consumers that if they did, they could lose over 30 per cent of any money they were set to receive.\n\nAs part of its scheme, the FCA has also excluded anyone who is pursuing court action, through a CMC or law firm, in the hope of securing a higher level of compensation from the redress scheme. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThese types of setups are also on the radar of legal regulators, as the SRA says there is a “growing” concern about how the market operates.As of 31 January 2026, the SRA, which regulates law firms in England and Wales, had 89 open investigations involving 71 firms that manage high-volume consumer claims, and has so far closed 7 firms operating in this area.There have also been a number of high-profile cases of firms specialising in high-volume claims work failing, including the collapse of SSB Law in 2024, leaving behind debts of £200m.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2624652713","isCrawlerRequest":true}