June 2017 Orange County Lawyer Article Explores Structuring of Attorney’s Fees Recovery.
Patrick C. Farber (a structured settlements broker), in a June 2017 Orange County Lawyer article entitled “Financial Management Strategy: Structuring Attorney’s Fees,” discusses strategies and tax implications for plaintiff’s attorneys due to receive recovery of a substantial fee recovery. It suggests that an annuity structure, much like that used for plaintiffs recovering a large fee recovery under a settlement, might make sense depending on the attorney’s future needs.
Litigation Cost Insurance Covers Plaintiff’s Expenses Up To $250,000.
In the June 2017 edition of the ABA Journal, the magazine discusses that Level Insurance offers litigation cost protection insurance to plaintiffs or plaintiffs’ counsel subject to certain adverse litigation expenses. The insurance is available to attorneys taking cases on a contingency basis as well as plaintiffs, with the insurer providing coverage starting at $3,500 and up to $250,000. The insurance can be purchased up to 90 days after a case initially is filed, subject to other conditions but covering a broad range of costs. The premiums are 7 percent of the coverage amount, exclusive of taxes and fees, regardless of the type of case. If plaintiffs themselves purchase coverage, the insurance will not reimburse fees but will cover routine expenses.