UK Medico-Legal and Insurance Services Market
13 Feb 2017
A valuable market responding to changes
Today, IRN Research publish the UK Medico-Legal and Insurance Market Briefing. This is the first edition of an annual IRN Legal Market Briefing from IRN Research and provides an overview of the market for medico-legal and insurance services (MLIS), including profiles of companies operating in the market. This market offers two main types of services to legal services providers, insurers and employers: Medical expertise (ME), i.e. medical expert witnesses and medico-legal report writing; and Rehabilitation and allied medical services (RAMS), i.e. medical services to rehabilitate and help an injured or ill individual.
Why Medico-legal and insurance services are used
MLIS are used for two main reasons:
- RAMS services saves insurers and employers money and they can boost the income of law firms. At the same time, they are in the best interests of individuals suffering from an injury or illness
- ME services assist in assessing the validity of personal injury or other legal claims and, in the case of medical expert witnesses, in expediting criminal legal cases
Medico-legal and insurance services worth over £600 million
The market for MLIS services, based on the turnover of the companies operating, was estimated to be worth over £600 million in 2016, having grown from over £500 million in 2013. Growth in the market has slowed recently.
Strong positive drivers of growth have been
- the growing focus on rehabilitation and psychological rehab by the insurance and legal professions,
- the growing volume of work for expert witnesses in 2015/16,
- the growing use of RAMs services for lower-value claims.
Negatives for the market include:
- the growing restrictions that have (and are due to) come into force in the personal injury market, either reducing the number of claims or cutting their costs,
- the fact that expert witnesses report that it is a harder market to operate in because of legal changes and rulings,
- downward pressure on expert witness fees.
The briefing (66pp, PDF), is available directly from IRN Research, priced at £180/€203/US$219. UK sterling price is plus VAT so total price is £216.