Law firm Weightmans has seized on research into the professional indemnity market to slam lawyers for letting down their clients and failing to maximise the benefits of mediation.
City Research Associates finds the PI market rife with inaccurate cost reserves and high legal costs compared with sums at stake.
Time taken to return calls, verbose advice, lawyers that are not on the fence, lack of continuity of personnel and lack of pro-activity in client management were also high on the complaint list.
Weightmans warns professional indemnity insurers they can save themselves time and money by moving on from traditional routes and handing files over to their lawyers at the pre-proceedings stage.
Nicky Smith, professional indemnity partner said: "A recent Mori survey showed that a third of companies have not received advice on mediation from their external advisers. This is shocking. Claimant law firms are even worse than defendants. The majority are not moving with the times and show a total lack of imagination and creativity in dealing with claims.
