Does your Firm know know how to play “The Panel Manager Game?”
If your firm relies heavily on a steady diet of Insurance Defense cases, hopefully you have somebody reliable monitoring the panel management process with your carriers? This can potentially require a decent amount of time and it is an area that Legal-Metrix LLC can assist you on. Just maintaining minimal contact with prospective panel clients in the current environment is a surefire recipe for disaster. Currently we are living through the most active Insurance M&A market in our lifetime. As these new “merged” carriers mover forward you can expect them to try and create increased operating efficiencies by reducing costs. Nothing in that last sentence bodes well for your firm. Even more catastrophic would be if your firm was missing from that newly merged carrier’s panel list.
If your firm lives and dies in the Insurance Defense space we can not overemphasize the importance of staying on top of this crucial process. Sometimes something as minimal as an individual retirement, a job move, or a change in panel member responsibilities can potentially put your firm on the outside looking in.
Sadly the recent trends towards the greater use of Captive or House Counsel, regional counsel, panel consolidation, and AFA’s are expected to continue and increase in the coming year
Legal-Metrix LLC welcomes the opportunity to discuss with you how we can provide your firm with an inexpensive alternative solution to managing these key relationships and allowing your staff instead to focus on billable time.