Pinsents/Salans alliance yields results with role on Hiscox TMT pilot scheme
Pinsent Masons has won its first major mandate since launching a strategic alliance with Salans, with the law firm securing a role as sole adviser in a value billing pilot scheme for insurance giant Hiscox. The firm has been selected to take part in a 12-month pilot scheme that will see it take on all technology disputes work for Hiscox using alternative billing structures.
June 18, 2009 at 04:39 AM
2 minute read
International tie-up provides early success as Pinsents beats panel firms to insurance role
Pinsent Masons has won its first major mandate since launching a strategic alliance with Salans, with the law firm securing a role as sole adviser in a value billing pilot scheme for insurance giant Hiscox.
The firm has been selected to take part in a 12-month pilot scheme that will see it take on all technology disputes work for Hiscox using alternative billing structures.
The firm beat the other 15 firms recently appointed to Hiscox's technology, media and telecoms (TMT) panel to win the pilot mandate, with 4 Pump Court named as the preferred chambers during the pilot.
Hiscox has cut the number of firms on its panel down from 20 to 15 including Pinsents. However, the company declined to name any of the other firms on the roster.
Pinsents' role comes after the firm's tie-up with Salans went live earlier this month, handing Pinsents increased international scope.
Pinsents' outsourcing and technology partner David Barker took the lead on the tendering process while Hiscox's head of UK and international TMT claims, Andrew Sellers, conducted the panel review.
Barker commented: "Earlier this year Hiscox indicated to us that they wanted to change the way they instructed lawyers and get away from hourly rates. The panel review's main objective was to appoint a firm to work with Hiscox for a year on a pilot scheme where innovative costs methods would be used. The process that we are starting on now includes fixed prices for different phases of the dispute taking into account a variety of factors including the value of the dispute and the complexity of it."
Sellers added: "We are growing TMT across Europe and the pilot will not just be confined to UK claims. We conducted a root-and-branch review of our panel and at the same time decided to look at pricing mechanisms. We needed a trusted partner to do this pilot scheme and that was Pinsents. The alliance with Salans was attractive as the firm has a great Europe offering."
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