The Lawyer UK 200 preview: Insurance: Upstarts force pace of change

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  • The fact that change is being driven bottom up will be an alien concept to a profession where change is held by so many at the the top. But if clients are asking for rates cuts and only the factories are willing to offer them then what else can the middle do?
    The reality is that law firms will have to get used to commercial world where people aren't paid £50k/£60k when they just come out of uni.
    Lawyers have spent years inflating their own salaries, it is time to adjust.

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  • There will always be space for quality. These firms are pushing change but whether that is sustainable is another thing. Are we walking into a blind alley? In a few years time we could have some big crashes on our hands and everyone will end up paying.

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  • Sorry to nitpick but unless my maths are seriously out, the percentage profit change in the chart above for Optima should read -(minus) 40% (0.6 this year against 1.0 last year)?

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  • Hmmm........a turnover of £80 million and profit of £700,000. It only needs a bit of a downturn in business for things to get rather sticky.

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  • "Yet the management teams in these ­former rivals (Clydes and BLG) clearly foresaw mass change in the sector".

    er, not really. BLG's management team of twenty-somethings clearly foresaw that they were better off with another organisation and sold the firm down the river. BLG always had a volume business and prior to the "merger", had further developed it.

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