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Critical time ahead for PI firms

With reform firmly on the horizon, firms need to take a critical look at the profitability of their personal injury work and consider a radical shake-up, advises Lesley Graves

14 March 2017

On 23 February 2017 the government published its detailed response to the recent Ministry of Justice consultation on ‘Reforming the soft tissue (whiplash) claims process’. It is looking to introduce the reforms on 1 October 2018, meaning personal injury firms have a short window to make some business-critical choices that can help them navigate their future.

Any firm dealing in claimant PI must have its future strategy under the microscope. The operational and financial pressure has never been more acute and the relentless challenges to the profitability of carrying out PI work remain an ongoing concern.

When Lord Justice Jackson’s April 2013 reforms landed, it was thought that the sky would fall in, and some firm owners and commentators believed the only options were to ‘get big, get niche, or get out’.

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