There is more competition between specialist re/insurance lawyers than ever—a phenomenon that is generally good news for clients. In the second part of this feature, Intelligent Insurer explore how law firms are reacting to these changes and targeting new markets.
In the previous issue, Intelligent Insurer looked at how the landscape for law firms specialising in re/insurance is changing. Some of the areas that have traditionally delivered healthy pots of fees to law firms, such as large contractual disputes, have fallen by the wayside.
This could well change again in the future. In fact, John Nonna, partner at US law firm Patton Boggs, makes this exact point in an article looking at how new risks the industry is moving into could ultimately lead to more disputes in the future.
But in the meantime, law firms are adopting different strategies to try to ensure they remain relevant to their clients and are able to add services that add value to what have become far more robust and well resourced in-house legal departments in recent years.
Law Firms, Reinsurance, Insurance, Lawyers, Intelligent Insurer
