This episode features attorney Irwin Kramer, managing partner of the insurance defense firm of Kramer & Connolly, located near Baltimore, Maryland. Mr. Kramer has served as lead counsel on behalf of insurance carriers worldwide and has taught at some of the most prestigious U.S. law schools. He founded The Legal Television Network to enhance public access to legal information.
In his discussion on alternate fee arrangements between insurance companies and law firms, Mr. Kramer explains the advantages and disadvantages of flat fees and the tensions and conflicts that billing by the hour can generate. He defines the “collared fee” approach and discusses when and where it might apply. Mr. Kramer comments on whether more law firms are moving away from billing by the hour and if insurance carriers pressure firms to have billing records audited. He also sets forth what insurance carriers should focus on when securing a relationship with a law firm.
Kramer & Connolly is listed in Best’s Directories of Recommended Insurance Attorneys and Adjusters, the most authoritative and detailed reference for locating qualified legal counsel, independent insurance adjusting services and expert service providers since 1928. Learn more at http://www.ambest.com/directories.
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