Bulletin – More Top Lawyers Break Through $1,000 Hourly Billing Barrier!

A report in the February 23, 2011, on-line edition of the ABA Journal recounts the upward number of lawyers who are now billing at over $1,000 per hour.  http://www.abajournal.com/weekly/article/more_top_lawyers_break_through_1000_hourly_billing_barrier?utm_source=maestro&utm_medium=email&utm_campaign=weekly_email

Interestingly (but not surprising), all of the lawyers named in the report do corporate law work.  Topping the list is a “corporate lawyer” who bills at $1,250 an hour.  This reminds me that when I first started practicing 37 years ago, I was billed at $25 an hour.  (Many people did say I was overpaid at that rate!)  I was lucky if I made $1,250 a month.

In doing legal bill review work for insurance companies, I do not see too many legal bills from large law firms that do “corporate” legal work.  However, I do get to see some from time to time when I do work for corporations or high net worth individuals who have hired a large law firm.  What I do see in legal bills from large law firms often “boggles the mind and staggers the imagination” as an old boss of mine used to say. Continue reading

Is a Legal Bill Review Unit the Right Solution for Your Company?

        In my post on Jauuary 23 on eliminating “leakage” in claim legal costs, I provided three alternative solutions: establishing a separate in-house legal bill review (LBR) unit, training (and monitoring) all the litigated file handling staff on appropriate legal bill review techniques, or outsourcing legal bill reviews.   I also stated that in some instances a combination of these solutions might be appropriate.   This post will focus on the first identified solution, establishing a separate LBR unit and what is involved in deciding whether a LBR unit is the right solution for your company. Continue reading