Collective action on legal fees charged by firms

An item in Legal Week, March 22, 2007 at 3, mentions the claims handler for Lloyd’s of London, Xchanging Claims Services. The survey “is part of a wider initiative by the company to create a database that will be accessible to all members of Lloyds …” (See my post of Oct. 14, 2005 on collective action by law departments and the posts cited.).

For several years I have wondered why law departments don’t share information among themselves about what their firms charge them and the costs of comparable levels of legal services. The program of Xchanging appears to move in that direction of collective information exchange.