Allstate Insurance Company has instituted major changes in the way its Law & Regulation department selects and works with outside law firms. The Allstate Premier Law Firm program was developed to improve the quality of outside counsel services while reducing its cost and to enhance the department's contribution to the legal profession's diversity efforts. The program covers the legal work assigned by corporate headquarters and does not affect work assigned through the claims organization in field locations.
"The promise of the Premier Law Firm program is exciting. By establishing relationships with a limited number of select law firms, we believe that we will dramatically improve both the cost and quality of the legal services that our Law & Regulation department delivers to the enterprise," said Michael J. McCabe, senior vice president and general counsel, Allstate Insurance Company. "The program also gives us an opportunity to provide these firms with a profitable and rewarding experience and, by working together, to make new strides in our mutual commitment to diversity."
Following a "convergence" model, the vast majority of work for which Allstate's Law & Regulation department retains outside counsel will go to 13 firms. The Allstate Premier Law Firms were selected based on a variety of factors including service quality and efficiency, scope of geographic and subject matter coverage, commitment to diversity, and rate arrangements. The program will reduce costs through improved law firm rate structures, improved technology efficiencies and internal work processes, and a more cost effective work allocation.
The Allstate Premier Law Firms are:
* Adorno & Yoss
* Akin Gump Straus Hauer & Feld
* Ballard Spahr Andrews & Ingersoll
* Dinsmore & Shohl
* Kirkland & Ellis
* LeBoeuf Lamb Greene & MacRae
* Meckler Bulger & Tilson
* Mintz Levin Cohn Ferris Glovsky and Popeo
* Riddell Williams
* Rumberger Kirk & Caldwell
* Saiber Schlesinger Satz & Goldstein
* Seyfarth Shaw
* Sonnenschein Nath & Rosenthal
"Each of these law firms has an established reputation for providing exceptional legal service, and they are individually and collectively committed to the success of the Premier Law Firm program," said McCabe. "We are looking forward to many years of mutually beneficial exchanges with these outstanding firms."
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate®" slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 13,600 exclusive agencies and financial professionals in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate®. EncompassSM and Deerbrook® Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group provides life and supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.
FOR MORE INFORMATION:
Laura Margolis, (847) 402-5600