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Lewis Hymanson Small – the law firm bought by AIM-listed Abbey Protection earlier this year – made a small dent in the company’s profits during a “tough” initial period, Abbey’s half-year results have shown. They also lay out how much it paid for the Manchester practice.

The ban on referral fees in personal injury is set to cost Admiral Insurance around £15m this year, it emerged yesterday. The insurer also said its two new ABS joint ventures are “not expected to make a material contribution to group profits in the foreseeable future”.

Leading AIM-listed accident management company Helphire Group has linked with a start-up personal injury law firm within an alternative business structure, Legal Futures can reveal. Principia Law Limited is managed by solicitors and barristers.

As insurance companies look to form alternative business structures, the traditional legal sector can no longer just raise an eyebrow – we need to take a much more serious look at the practicalities and ethicalities involved. Purists will argue that placing insurers anywhere near the helm of a public-serving legal practice can only have a negative impact on the culture of the organisation, and ultimately, the level of service provided. And they would have a point.

The first alternative business structure to market itself as a firm offering both legal and accountancy services has been licensed by the Solicitors Regulation Authority. Direct Law & Finance Ltd is a firm of solicitors and accountants based in Brentford, west London.