October 3, 2013

There were further signs this week of a worrying escalation in the word war between lawyers and brokers. Not content with calling solicitors’ representative body The Law Society, “ill-informed”, fashion house BIBA went on to accuse Law Soc of focusing selfishly on promoting the interests of its own members, branding it “self-serving.”

The fuss stems back to comments made in the press release issued by Law Soc announcing that it was “pairing” or “partnering” or “coupling” or something with Miller Insurance Services to unfairly cut brokers out of the solicitors’ professional indemnity market.

Law Soc’s Eldor Vigar had suggested that brokers are worthless parasites who charge small and unsuspecting law firms vast fees for adding little or nothing to the PI purchasing process, aside from recklessly shunting their clients in the direction of shady unlicensed insurers based god knows where.

When he tried to sit down with insurance people to sort out the dismal service standards allegedly encountered by his members, Vigar noted in the press release announcing the launch of no-broker PI provider Chancey PII with Millers, brokers weren’t interested in talking.

In the wake of BIBA branding Law Soc ill-serving and self-informed, Vigar this week cranked up the pressure, telling the press he still didn’t think much of brokers and that, just because there may be some insurance brokers who are not out-and-out scoundrels, “that’s not to say all brokers, de facto, are that good.”

Having no training in formal logic, Bankstone News cannot, alas, shed any light on the veracity or otherwise of this assertion.

Hopefully BIBA will respond with vigour.

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