What does consolidation in the legal sector mean for insurers?

By 16th March 2023 March 20th, 2023 News
Insurance Edge

Companies pursuing the billions of pounds of insurance claims which are contested each year are being failed by a legal industry that is conflicted and dominated by a handful of specialist firms.

Analysis of legal data from the High Court shows that just four law firms are appointed on well over 50% of all insurance cases filed at court. In the vast majority of cases, these firms are appointed to defend insurers rather than bringing claims against them, according to the legal data compiled in our Claim Litigation Index.

In this Insurance Edge article, Mactavish CTO, Rob Smart explains that while there is nothing wrong with a law firm specialising in defence work, consolidation can exacerbate conflict in the market, making it difficult for companies facing a disputed insurance claim and requiring businesses to look at alternatives to the traditional legal sector.

Read the full article

Receive our insights in your inbox

Keep up to date with changing risk and regulatory environment, market insights and tips on insurance. Subscribe now.

Subscribe to our email

    A * denotes a mandatory field.
    We hold your personal data safely and in accordance with our privacy policy.
    For more information, please see our privacy policy here.