Personal injury firms attractive to possible ABS entrants

Love them or loathe them, personal injury lawyers are amongst the most business oriented of lawyers, they understand customers, marketing and profit and it is perhaps not a great surprise that some of the most successful personal injury practices, rarher than general practices are being apparently eyed by prospective entrants to the legal market as alternative business structures.

Another good reason why personal injury law firms may be subject to be bought out or invested in is that the risks are relatively low, the type of work is quite easy to understand and perhaps most importantly of all, subject to potential conflict of interest issues, there are clear synergies and business reasons why an insurer might be interested in a personal injury specialist practice.

As an example of possible early ABS activity mooted in the legal press, Minster Law, a well known and highly successful personal injury practice is cited as a possible target for BGL Group. Minster law is a big PI practice with some 800 staff and it is well known to BGL, who it apparently has worked closely with already.