The news that the AA has become the latest in a string of high street companies to jump on the ABS bandwagon proves that insurer appetite for ABS makeovers shows no sign of abating.
A number of insurers have stepped into the legal services market this year. They include Admiral, which formed a partnership with Cardiff-based compensation firm Cordner Lewis and Lyons Davidson – also the AA’s new best friend – and Direct Line, which has formed a partnership with Parabis.
The ban on referral fees introduced by the Jackson reforms has made the ABS model – and the in-house work it brings – an appealing proposition for insurers. Keep your eyes on the road ahead for more developments.
Also on TheLawyer.com:
- The Bar has announced plans to double the training requirements placed on barristers for direct instructions
- Channel Islands firm Collas Crill is moving to London
- Allen & Overy has lost its advisory role in Co-op Bank’s sell off