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Tag Archives: property and casualty claims

P&C Insurance Carriers Favor Flat Fees; Not All AFAs Apply

P&C Insurance Carriers Favor Flat Fees; Not All AFAs Apply

Property & Casualty (P&C) carrier legal and claims departments prefer using flat fee-based alternative fee arrangements (AFA) over any other type of alternative billing method, says a new survey, the third in a series conducted by the LexisNexis® CounselLink® team. Eighty-two percent of P&C carrier legal and claims departments say flat fee AFAs are most effective in terms of helping ... Read More »

Study: AFAs Proliferate for P&C legal matters

Study AFAs Proliferate in P&C Claims and Law Departments

Alternative fee arrangements (AFAs) use is rising among property and casualty (P&C) insurance carrier legal and claims departments, according a new survey, the third such survey in a series, by the LexisNexis® CounselLink® team. The use of AFAs moved up from 69 percent in August 2015, to healthy 76.9 percent. In other words, nearly 80 percent of this segment of ... Read More »

The Top 5 Law Department Metrics for Insurers [Infographic]

The Top 5 Law Department Metrics for Insurers [Infographic]-header

Law departments within insurance companies demonstrate a high level of sophistication in corporate legal maturity.  Consider the following: Legal costs are lower. Median partner billing rates are the lowest among the practice areas tracked by the CounselLink® team. Rates tend to be stable. Legal rates in insurance work also have the least volatility with a score of 2 out of ... Read More »

Insurance: Legal and Claims Rate Metrics with Most Value

Insurance Legal and Claims Rate Metrics with Most Value

If corporate attorneys across the market are seeking a sharper understanding of legal department metrics, then they might do well to review what peers in the insurance vertical are doing to measure litigation costs. In legal and claims work, in the property & casualty insurance vertical, efficiency matters. As a result, legal professionals working in insurance claims tend to be ... Read More »

Litigation Costs Study:  How P&C Shops are Keeping a Lid

How P&C Shops are Keeping a Lid on Litigation Costs

It’s a balancing act:  fraud versus fair settlement and loss costs with expenditures.  As far as legal departments go, those working insurance claims for U.S. property and casualty (P&C) carriers are under constant pressure to drive operational efficiency, while providing quality customer service. To find out how P&C claims shops are keeping a lid on costs, we surveyed 86 P&C ... Read More »