Nottingham law firm Nelsons has split off its commercial insurance service into a separate company to allow the expansion of what the practice claims is a unique service.
The firm believes it is the only practice to have an insurance arm that focuses on commercial insurance and is not tied to any particular insurance company.
The new company, Nelsons Commercial Insurance Services, was set up in April and is now applying to be registered as a brokerage under the Insurance Brokers Registration Act. It is run by Ian Murdoch, an experienced insurance broker, who joined Nelsons last summer.
The service involves shopping around for the best commercial insurance deals and Nelsons claims to have saved its clients considerable amounts of money on their premiums.
Murdoch commented: “Other lawyers tend to offer personal insurance, such as household or conveyancing, and those who do offer a commercial service are usually linked to an insurance agency.”
He added that having legal expertise in-house, especially when pursuing claims, gave the company a great advantage in a very competitive market.