In days gone by, an insurance defence firm may have sounded like a pretty niche outfit. But as boutiques in the area enter a second generation, they’re drilling down to even more precise specializations in order to stand out from the crowd. Most of the firms that made our list this year now have at least two decades of experience behind them, many after breaking away from larger, full-service firms. “It’s a mature market, and it’s not a new area of law, so the gross revenue is not increasing dramatically,” says Eric Dolden, co-founder of Vancouver firm Dolden Wallace Folick LLP. “You’re always going to have your auto cases and house fires, but that’s kind of static. The growth is in new areas where you couldn’t get insurance 10 years ago.”
He says firms are increasingly looking to market themselves as experts in sub-specialties, such as professional liability, subrogated claims, and policy wording. At Dolden Wallace Folick, particular emphasis is placed on cyber-liability — a growing concern for companies dealing with potential privacy and personal information breaches — and directors’ and officers’ liability.