Legal Expense Management
Legal costs can be an expensive component of conducting business. It is to our clients’ advantage to analyze and review all legal billings to ensure adherence to an applicable industry standard. While corporations want to compensate providers of legal services for reasonable and necessary activity, thorough vetting of billings is prudent. A professional review can furnish, in detail, useable data delineating compliant, reimbursable fees and expenses, as well as flag charges that may not be in keeping with services rendered. The Legal Bill Auditing Services practice provides invoice analysis, reconciliation, and negotiation across a variety of industry sectors. A legal audit is performed by fully qualified attorneys who have both technical and professional expertise. Typical clients include insurers, reinsurers, corporations, and organizations with legal defense costs.
A global financial services firm needed assistance with the development of billing guidelines and review of all corporate legal invoices. With new processes in place, the firm saved millions, including an across-the-board fee discount of 10% with one firm in the course of just one fiscal year.
An international property and casualty company needed a full review of all defense invoices on a rolling basis. By partnering to develop a comprehensive review system and overseeing the negotiation and appeals with the corresponding firms, the client saved 10-15% on all their legal costs within one year.
Multiple clients sitting on different layers of a risk independently retained Alan Gray LLC to review over $75M in billings stemming from a catastrophic event. The firm analyzed the invoices categorizing approximately 45% of the activity as non-compliant. The data provided to the clients allowed for fruitful negotiation with interested parties.