Insurance work dropping off for law firms

By Des Cahill

14 May 2015 at 11:19 BST

Practitioners are continuing to see more work being kept in-house as insurance and reinsurance companies try to lower costs, according to a recent review of the insurance market by Who's Who Legal.

Insurance legal work is dropping off for law firms Tashatuvango

Litigation lawyers have seen the number of cases they are being instructed on fall significantly in recent years mostly as a direct result of the work being kept in-house, according to Who's Who Legal. In disputes where there is a great deal at stake, however, there is still an appetite for the more expensive experience and resources of a law firm. As one lawyer put it, companies are not prepared to “bet the business” on these significant matters. In the marketplace litigators also note that increases in the training and education of workers in the insurance market as a whole has had a mitigating effect on disputes with contracts being written in much tighter language.


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