Need Ideas for Partnering with Large Law Firm

[RJT Consulting]

I have the opportunity to sit down with a very large law firm based out of Chicago that specializes in representing employers that are involved in insurance related litigation. From work comp claims to liability issues etc, they work for the employer.

I am brainstorming on ways to capitalize on this opportunity for both parties. This obviously allows my employer groups to have a level of expertise at their fingertips that other agencies are not offering. However, as we all know, the insurance carriers typical hire the law firm when an employer is in need.

So, what other ideas do you have that might make this a worth while adventure?

Bob

 

[Norwayguy]

I have the opportunity to sit down with a very large law firm based out of Chicago that specializes in representing employers that are involved in insurance related litigation. From work comp claims to liability issues etc, they work for the employer.

I am brainstorming on ways to capitalize on this opportunity for both parties. This obviously allows my employer groups to have a level of expertise at their fingertips that other agencies are not offering. However, as we all know, the insurance carriers typical hire the law firm when an employer is in need.

So, what other ideas do you have that might make this a worth while adventure?

Bob

Make the law firm a client first. From your post this Law firm sounds like it would be good a ripping you over the coals as they specialize in representing employers involved in litigation with insurance companies....good luck

 

[Franz Kafka]

This obviously allows my employer groups to have a level of expertise at their fingertips that other agencies are not offering. However, as we all know, the insurance carriers typical hire the law firm when an employer is in need.

So, what other ideas do you have that might make this a worth while adventure?

Learning to communicate clearly may be one.

 

[RJT Consulting]

Learning to communicate clearly may be one.

Franz, if you did not understand my post then you could have communicated that without being snide. I do believe that is EXACTLY the type of behavior that Sam does not want on his forum.

Bob

 

[Josh]

Franz, if you did not understand my post then you could have communicated that without being snide. I do believe that is EXACTLY the type of behavior that Sam does not want on his forum.

Bob

Meh, snide comments are fun.

On a more productive note, just what exactly is it that you're looking to do with them? Aside from their personal business, I don't see what else you can do with them. They seem to work with exactly the tope of clients you want to avoid (one with claims history).

 

[RJT Consulting]

On a more productive note, just what exactly is it that you're looking to do with them? Aside from their personal business, I don't see what else you can do with them. They seem to work with exactly the tope of clients you want to avoid (one with claims history).

Just trying to figure out if there is a competitive advantage that can come from a partnership outside of a referral basis. While I do not doubt that there are times when they are defending an employer who is in the wrong, the opposite would be just as true. I don't believe that necessarily taints the pool.

Bob

 

[Franz Kafka]

Franz, if you did not understand my post then you could have communicated that without being snide. I do believe that is EXACTLY the type of behavior that Sam does not want on his forum.

Bob

I sincerely believe that you yourself do not understand what you are asking.

 

[VolAgent]

Just trying to figure out if there is a competitive advantage that can come from a partnership outside of a referral basis. While I do not doubt that there are times when they are defending an employer who is in the wrong, the opposite would be just as true. I don't believe that necessarily taints the pool.

Bob

Franz is right. What do you hope to gain by associating with this law firm? And don't say a competitive advantage. What kind of advantage is this going to give you? What kind of products do you sell?

If you are doing commercial lines, I'd think the referrals you'd get from them are the exact opposite of what you'd want. They are going to send you people who suffered large claims and aren't afraid to sue. I don't think either you or your carriers would want that kind of liability. I can promise you, every time you forget to dot an I or cross a T, you'll get a nasty note from the law firm. Your E&O carrier will quickly hate you, and non-renew you if they can.

If you are doing life and health, what is special about this law firm and its renewal? Again, you're dealing with an employer that has suffered claims, sued and won. Why bring on that headache?

This is the equivalent of trying to sell auto insurance to people walking out of a personal injury attorney's office.

 

[RJT Consulting]

Here are my preliminary thoughts:

1) If I am approaching employer XYZ about their P&C insurance, and I have attorneys on site who specialize in insurance related litigation, then this provides the employer with a level of service that their current agent is not providing.

Obviously, an ideal world is that our groups would never need the service of such a firm, but then again, we don't live in an ideal world. I would rather be prepared should my employer need this service then not.

2) This relationship provides me with resources that my competitor does not typically have access to. For instance, if an employer asks you, their agent, if it is ok to fire someone who is currently out on work comp, what are you going to say? You're going to tell them to consult with their attorney as you don't need the E&O exposure. I, on the other hand, can not only provide them with resources from the law firm (they publish articles/guidelines etc) but transfer them to the particular attorney who handles that specific need.

Those are the types of ideas that I was soliciting. I was also wanting to hear any negatives that you thought this relationship might pose. I appreciate the notion behind "why would you want referrals from a law firm." However, again, I don't believe that all of these types of referrals would be tainted. Simply being involved in litigation does not make you a pariah.

Bob

 

[VolAgent]

Generally businesses avoid people and other businesses who sued someone just like them. They are afraid they will be next. I'd have a talk with my underwriters and marketing reps before I pursued this idea. You may be trying to send them business they don't want.