The market for medico-legal and insurance services (MLIS), was estimated to be worth over £600 million in 2016 according to a new IRN Legal Market Briefing from IRN Research.
The MLIS market, which offers medical expert witnesses, medico-legal report writing as well as rehabilitation and allied medical services, has grown by £100 million since 2013. However, the report has found that growth has slowed recently due to the growing restrictions that have (and are due to) come into force in the personal injury market that have reduced the number of claims and cut their costs. IRN Research said that other negative forces included legal changes and rulings to expert witness reports and downward pressure on expert witness fees.
Nevertheless, the report concluded that there were some strong positive drivers for the future such as the growing focus on rehabilitation and psychological rehab by the insurance and legal professions and the increasing volume of work for expert witnesses in 2015/16.
The UK Medico-Legal and Insurance Market Briefing is the first edition of an annual IRN Legal Market Briefing from IRN Research and provides an overview of the market for medico-legal and insurance services (MLIS), including profiles of companies operating in the market.