“Phillips Fox stood out,” according to Joan Fitzpatrick, presiding judge and CEO of the Australian and New Zealand Institute of Insurance and Finance. The firm’s cost reduction initiative and its full range of insurance-related services scored highly with the judging panel, she said.

The firm’s managing director of insurance and risk management, Russell Adams, said the award recognised the firm’s “commitment to being at the forefront of the critical issues affecting our clients and to providing cost-effective legal solutions that deliver results”.

“In an environment where the effects of legislative reform are still being understood and many major insurers continue to consolidate, our challenge is to build on the team’s success to date and continue our role as a trusted advisor to the insurance industry,” Adams said.