Corporate legal departments are continuing to consolidate their panel of law firms, and some factors could accelerate that trend, including law firms’ desire to get stickier client relationships and ascendant practices such as litigation and bankruptcy.
“You’re seeing more and more consolidation,” said David Brown, co-chair of the global insurance services practice at Goldberg Segalla. ”We see insurance company panels have fewer law firms on it and more business reach for the firms on the panel. I think that’s important because what the insurance companies want and what the law firms want is to be partners and to understand each other’s business.”
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