Archive for September, 2010

17
Sep
10

Guardian v Times paywall battle moves onto business information turf

I’m a little belated with this post. Nevertheless it’s an important topic vis a vis paid versus free content.

Guardian beefs up law section with LexisNexis info deal – Press Gazette, points out that UK National newspaper the Guardian is taking on established rival the Times with a free online legal reports service in partnership with LexisNexis.

The Guardian is well-known for its resolute stance against paid for content online while the Times’ (and News International papers’) approach is becoming more and more aggressive towards generating income from subscriptions.

It’s interesting that business information like legal reports could end up being the battle ground for such a price war. The Times is still an established home for law reports, and lawyers like nothing more than to be considered for its flagship ‘lawyer of the week’ column. However, as a niche financial and business journalist, I subscribe only to publications that it’s essential for me to read and as such the Guardian’s new offer is an enticing prospect for anyone with a focus on legal services.

Until the internet becomes less of a minefield, with millions of publishers and blogs – like the very one you are reading – battling for your attention, a product that charges for its content has to rise head and shoulders above the rest. The Times thinks Rupert Everett will sell that to us with its new online paid content ad campaign – indeed £1 for a month’s subscription is a bargain, but if the Guardian’s legal content like this remains free at the point of delivery and it is of sufficient quality to justify the fanfare, I’ll be taking the cheaper option more often than not.

I think I’m probably just sick of entering usernames and passwords.

08
Sep
10

Insurance sector PR spokespeople; Ready, aim, fire!

Like deserters facing a firing squad, the insurance industry’s PR spokespeople took it like brave soldiers in today’s Daily Mail. 

The story, Insurers hike flood victims\’ premiums by 500% and make them pay first £6,000 of claim | Mail Online, points out how flood victims have seen their renewal premium and excesses go up by astronomical figures and asks why oh why.

Of course the problem is that because everyone’s paved over their front gardens and the government won’t stump up the cash for some more sandbags so every year thousands of people suffer enormously as torrents of water rush into their lounge and destroy the place.

This is a lose lose situation for the insurance industry PR machine but it’s very interesting to see what tactic they adopt in meeting their maker. They can’t blame the government, because surely that can’t justify slapping on an extortionate £6000 deductible at renewal, and they can’t tell us about all the grateful homeowners who’se properties they did save from destruction because well, that would result in a headline like ‘insurer pays claim and fixes house’.

However, perhaps knowing the battle can never be won, ‘Honest’ Adrian Webb, of Esure gives it to us straight and is almost praised by the reporter for doing so;  ”We are not an insurer for flood-risk postcodes. We have lobbied the government for nearly eight years to improve flood defences,” he says. “We cover flooding in areas where it is a genuine accident, not an accident waiting to happen because of nearby undefended water sources. Insurers do not cause floods, neither do they build flood defences.”

07
Sep
10

Remembering Robert Clements

The sad news that Robert Clements passed away over the weekend hit the reinsurance journals on Monday and it seemed appropriate to have a quick look through the tributes paid to “Bob”.

In my humble opinion, the word legend is over-used, but if you’re looking for a true legend of the reinsurance world you need look no further than Bob Clements. Clements is often credited with being one of the founding fathers of the Bermudian industry, altering the way capital flowed into the sector and he also played a key role in Marsh’s expansion into a truly global broker.

Advisen was first to mark Clements passing with some fulsome praise and acknowledgement of Bob’s small but significant role in the company’s development of its own news service. It also carried a full list of his reinsurance achievements and awards.

Next up was The Insurance Insider, which drew parallels with Sir George Somers the first settler in Bermuda in assessing Clements’ importance to the island. The Insider described his “extraordinary legacy” and drew on its 2005 Scriven profile to find some glowing tributes.

Finally, Reinsurance magazine talked of a “leading light” and led with the tributes of Kevin Kelley, CEO of one of Bob’s latest creations Ironshore.

On a personal note I’d like to say that I only met Clements once, in 2006 when he was in London with Integro. I was amazed by the energy and drive he displayed, for a man in his seventies who had already achieved so much during his long career it was remarkable.

03
Sep
10

Do western lawyers have an opportunity with LPO?

Rachel Rothwell’s blog post in the Law Society Gazette poses an interesting anthropological question for observers of the globalised economy.

Will LPO pose a threat to junior lawyers? suggests the impact of Legal Process Outsourcing companies that provide low-cost volume services such as contract drafting, e-discovery or document review, will be a net reduction in the number of trainee positions available amongst the UK’s established law firms.

In short, the answer must be yes?

Comments relating to the post suggests this idea is nothing new; training budgets are often the first area to receive the slash and burn when margins are under pressure.

However if this flight to low-cost offshoring in the legal sector is inevitable, shouldn’t trainees and aspiring lawyers as well as qualified professionals themselves be looking beyond our own boarders for opportunity?

As I understand it, LPO providers like Pangea3 are actively recruiting native language speakers for the markets they serve in Europe and the United States to enhance their client relationships.

Indeed, Pangea3 was the subject of an interesting case study in the New York Times recently which followed the fortunes of an American lawyer who had taken the leap and moved to India to pursue his career in that country.

India will certainly have designs on making itself a viable expatriate destination and that future development will depend on the country accommodating western requirements. With private schools and other infrastructure already in place to meet this need, if I was a trainee looking for an opportunity to travel and work, or a professional with transferable skills I know it would certainly represent an interesting prospect.




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