GreyWing

Anyone going to be hurt when referral fees for personal injury fees are banned soon?

Are we about to see a load of domain names appear in a firesale very shortly?

I spoke with someone on here about how regulation could hurt the loans industry / subprime if it ever came in like it did in 3 states of the US. We thought it unlikely but looks like this may have just wrecked the PI domain sector.

Others that have landed on their backside would have been the HIP's sold for property names, obviously scrapped when this Government came in.

Will be interesting to watch..

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JMOT

Yep... totally screwed. Sell your PI domains to me, I'll buy them.

mally

Would be good to get some feedback from Rob, to see if it will effect him 100% as I'm aware he's got a great domain name in that field

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newpbc

I think the bigger players will just set up a company with solicitors in house wont they.
I'm sure the legal profession will find some loopholes somewhere it will kill the market for affiliates if it goes through I guess.

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GreyWing

On another look at it, it may not affect them at all. Looks like the legislation only states the payments between Solicitors and Insurance companies. So doesn't look to mention Solicitors to Affiliates, which I believe is the current setup.

In a weird way, their commissions might actually go up as Solicitors fight for claims rather than having an agreement where insurance companies send them XXXX of leads each month.

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JMOT

GreyWing

?????

JMOT

Its a big messy heavily biased dis-informed publicity led insurance industry lobbied cluster fuck.

This is going to take ages to sort out and do nothing to reduce insurance premiums... not in the slightest.

We shall see how this comes out in the wash as to exactly how any ban can be operated around but at the end of the day its going to be a regulatory ban, not something thats backed up by criminal proceedings.

For those of you who dont know I run one of the largest privately owned networks of PI sites, this has been in the post for ages and is just another round of headlines in the pantomime that is the PI industry.

Its deffo unpleasant news to see, its a super pain in the arse but TBH if this news has caught out/suprised anyone who operates in this sector then WTF have you been doing for the last 18 months LOL.

As for domain holders, its bad as all PI domain values have taken a huge spanking today. Mine included.

Its deffo going to potentially hurt a lot of people, it will effect me for sure in some way... I just cant work out till we get the green paper on the proposals whether life just got easier or much much harder

GreyWing

Sorry mate I thought you meant I'd done something wrong by raising it. I didn't realise that you had been watching this coming for a while and could be on the wrong end of all of it.

I'm more into finance names than PI, another chap on here and I spoke the other evening about investing in finance names and were worried about the same thing type of thing. Not a problem when names are at £1-2k but xx,xxx+ and things need to be taken into account. MP's start making daft proposals and could wreck the domain value and the investment made in them.

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rob

As JMOT has said, its nothing really new and been on the cards for a while.

Its not firm yet and has been mooted before, so might not even occur. It wont make peoples car insurance cheaper though

If it comes in I think it will be a good thing, and although its a revenue stream changed its certainly not the end of the world and if anything could improve stuff.

I would agree certain names have probably suffered in value, but not all.