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It's all very well saying decide what new area of work to target, but at the bottom end of the legal trade, which is what low value PI work is, there really isn't much alternative work available. There certainly isn't enough to absorb more than a tiny percentage of the thousands of PI fee-earners who have made a pretty easy living out of low-skill work.

The big difference is that the ex-PI lawyers / fee-earners will have to get paid by their own clients instead of extracting it from insurance companies, and it will come as a very traumatic culture shock to discover that you can't just send a bill and expect to get paid quite a lot of money for some very routine low-level work.