DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ppghtz/2016_insurance) has announced the addition of the "2016 Insurance Company Legal Fee Profiles" report to their offering.
With the dissolution of the Glass Steagall Act in 1998, insurance companies can operate like banks and vice versa so this report includes some banks as well. Insurance companies go well beyond underwriting policies; they invest in all asset classes as well as take deposits. Insurance related legal work is on the rise and will continue to be an active market for law firms especially in corporate, construction, contracts, torts, regulatory, insurance defense and recovery and complex commercial litigation practices.
A word on this report's research and compilation methodology. The research team identified hourly rates that are publicly disclosed. About 2,000 hourly rates per week of attorneys and support staff at 900 law firms globally are added to the database. Further research is required to connect the dots by adding detailed attorney profile information and linking the legal work performed to specific clients and client Industries. Through this process we are able to provide actionable data to users - law firms and corporate counsel - of the attorney hourly rates and AFA database and our analytical reports, including this one, to make important monetary decisions in terms of legal services offered and purchased. In terms of the report, not all timekeepers will appear in every year so sometimes average rates may vary; in this case the trend line and averages over the 2009 - 2014 period are the best indicators. In the event that no rates appear for a given field (year or position), an algorithm is used to estimate a rate or rates. And in certain instances, rates from a matter or matters may be substituted when a company's representation is known but rates are not available. In this instance, those companies and firms are footnoted. The report considers senior partners to be ones with 25+ years of experience (law school graduation year of 1989 or sooner), partners with 24 years or less experience and senior associates with 5 years or more experience. Of course, those experience levels may vary by firm but seem to work for both large law firms and middle-market ones. The producers of the report take no responsibility for the information obtained from public or private sources in compiling this report or for the errors and omissions of its research staff.
The report has 4 Sections:
1) Rates by Company and Firm
2) Rates by Firm and Company Represented
3) Rates by Practice Area
4) Rates by City
For more information visit http://www.researchandmarkets.com/research/ppghtz/2016_insurance