Testing the water
The deregulation of the legal services industry is offering exciting opportunities for insurers and brokers alike, although it may take several attempts before they can develop the right route to market, as Kathryn Mortimer writes
With the introduction of the Legal Services Act 2007, the legal market is being opened up to competition and flexibility in the ownership of legal practices. Through deregulation, the Act will make it possible for non-lawyers to own legal services firms, paving the way for lawyers to form multidisciplinary practices and alternative business structures with other professionals such as accountants and estate agents. This also means that insurers and brokers will be able to buy or set up their own
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