If you’re approaching the end of your training contract, you’re probably in the process of deciding which practice area you’d like to work in when you eventually qualify as a solicitor. If you’ve done a commercial seat during your training contract, you might have your sights set on securing a commercial position when you qualify.
Corporate commercial and commercial litigation are more well-known and popular choices for NQs, but have you considered commercial insurance? While it’s a lesser-known legal specialism, it can be an excellent option for trainees looking to work within an interesting, diverse and rewarding practice area upon qualification. Here are 6 reasons why commercial insurance might be the practice area for you:
1. You’ll work closely with and on behalf of big-ticket clients
The firms that work within commercial insurance tend to be large, national or international law firms with solid reputations. As such, they typically represent major insurance companies or self-insured corporates. All lawyers, including junior solicitors and NQs, enjoy exposure to high-quality and significant work, as they build relationships and work on behalf of these clients.
2. You’ll be entrusted with more responsibility
While firms that work within this area tend to be large and well-established, because commercial insurance is relatively niche, teams are smaller, compared to those working within other commercial areas. Because of this, NQ solicitors are given greater responsibility than they might enjoy working within a larger commercial practice area.
3. You’ll have a varied caseload
As explained in one of our earlier blogs, depending on the firm in question, commercial insurance work can include everything from product liability to professional indemnity. While some firms focus on one or two select areas of work, others deal with work from across the commercial insurance spectrum.
One of the firms we work with handles 16 different work types, with their solicitors dealing with just 3 of these areas, based on their previous experience and skillset. This approach provides lawyers with a varied caseload and also helps to future-proof the business.
4. Firms are open to considering NQs from a wider background
Many firms are receptive to candidates who have slightly different, but still relevant experience. In fact, because the pool of lawyers with like-for-like experience is so small, some firms actively pursue candidates with experience that isn’t purely in commercial insurance. For instance, if you’ve done some civil litigation or dispute resolution work as a trainee, you’ll likely have the transferable skills necessary to succeed as a commercial insurance solicitor.
5. It’s a future-proof sector
The firms that work within commercial insurance are forward-thinking and continually evolving to provide their clients with a holistic service offering.
Compared with other commercial practice areas such as property, because so many different work types fall underneath the commercial insurance umbrella, it’s a legal practice area that offers security and longevity for lawyers.
6. Solicitors are well-paid and enjoy excellent benefits and progression
Because firms that work within commercial insurance are typically well-established, larger outfits, structured progression routes are usually clearly set out for their lawyers. Those who put the work in and demonstrate drive and a willingness to do well will be rewarded and progress through the ranks.
What’s more, solicitors at these firms enjoy a comprehensive package of benefits, including private healthcare, a generous holiday allowance and discounted gym membership.
Want to learn a little more about the kinds of commercial insurance roles on offer for NQ solicitors?
If you think commercial insurance might be the practice area for you and you’d like to find out more about our current NQ opportunities, do not hesitate to get in touch.
At Realm, our commercial insurance specialist Joseph Shenton works with law firms across the North West recruiting commercial insurance solicitors at all levels.