With the LASPO exemption ceasing to have effect as of 1 April 2016 now is the time to review your case load and give yourself the best change of being able to take advantage of the current rules. Katie Armstrong makes a good point - 'a sudden increase in the volume of ATE insurance applications will inevitably lead to higher than normal rejection rates'.
With only 10 weeks left until the changes take effect, time really is of the essence. Insolvency practitioners must act quickly in order to ensure that any existing cases are presented to insurers in time to obtain the benefit of the existing rules. ATE Insurers will need time to assess any new insurance applications and an allowance of time must be given to agree premiums and cover limits and execute policy documents. As the volume of applications increases in the run up to 1st April, underwriters will inevitably start to apply “rough justice” when assessing cases, leading to higher than normal rejection rates. Insurers will also likely close their doors entirely to new applications some weeks in advance of 1st April, in order to allow time to work through the backlog of applications already submitted.