by Aiken PR
Global law firm Clyde & Co’s merger with UK and Ireland law firm BLM has gone live today with the combined firm now known as Clyde & Co. It has global revenues of over £700m per annum, a headcount of over 5,000, with offices in over 60 cities worldwide including an office in Dublin, 14 in the UK, including two in Northern Ireland.
BLM’s teams have become part of Clyde & Co’s market–leading global insurance practice, with the majority joining its casualty insurance practice. Other sizable groups have joined Clyde & Co’s professional liability, healthcare and business advisory teams.
The newly expanded and market–leading casualty practice, which has over 800 legal professionals working across casualty business lines will shortly expand its relaunched and rebranded online casualty innovation platform Clyde & Co Newton to the Irish market.
As the biggest legal provider to the UK casualty market following the merger, with the largest data set, Clyde & Co Newton combines the firm’s casualty insurance legal expertise with claims automation and artificial intelligence, factors that are central to the firm’s strategy for delivering the lowest overall indemnity spend for casualty clients. The platform has the ability to ‘read’ 99% of all documents required for claims evaluation and can automatically produce valuations for 89% of employers’ liability and professional liability claims.
Chris Murray, Partner at Clyde & Co, said:
“The merger is our response to insurers’ changing needs. By combining our businesses, we have created a new foundation for casualty claims built on scale, expertise and an innovative vision for the use of technology.
“Ireland is a very important market for Clyde & Co and places us strategically to achieve our growth ambitions.”
Cormac Fitzpatrick, Belfast based Partner of Clyde & Co in Ireland, said:
“The merger has created a powerhouse across the UK and Ireland insurance casualty market. The cross jurisdictional expertise, technical know–how and IT innovation will greatly enhance service to our Irish clients. Added to that is client access to Clyde & Co’s unparalleled international presence. Size matters as clients are increasingly looking for end–to–end support from trusted suppliers across business lines and geographies as they seek partners to support their growth and drive to improve margins in what is an ever–competitive sector. We are delighted that our Irish clients will be able to benefit from all that the merged firm has to offer including the soon to be live technical innovations.”
Clyde & Co Newton incorporates a wide range of innovation product types including an AI costs assessor, a loss of earnings and pensions calculator, a recoveries assistant, and an accommodation claim calculator. Further products are also in the pipeline for delivery across the remainder of 2022 and 2023.
Clyde & Co’s casualty practice provides insurers with support across catastrophic injury, disease, employers’ and public liability, abuse & neglect, fraud, motor claims, and property damage and recovery, forensic accountants, investigators, other specialists, and a safety health and environmental regulatory team, enabling the firm to provide full coverage across civil and criminal matters.