Reply to Explain to me like I’m five. What do “Big Law” lawyers do?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]

Anonymous wrote:
When I think of a lawyer, I think of the person who helps you win compensation after you got hit by a car.

BigLaw is who represents the evil insurance company from whom the ambulance-chaser is trying to get your accident compensation.
[/quote]

This is inaccurate.  Insurance defense is handled by small regional firms or "captive" --essentially in-house-- firms for large companies like Travelers.  Insurance companies will not pay biglaw rates and negotiate the regional firms down to rates that are 50% of their stated rates.  Insurance industry only uses BigLaw in cases where the stakes are huge and the legal issues are all of first impression (think post-9-11 New York property insurance claims).  [/quote]

Wow, I'll have to let the insurance practice at my firm know that they're servicing imaginary clients.  Insurance companies are indeed aggressive rate negotiators, but they have lawyers on retainer to protect their contractual provisions.  No one want some podunk state court judge punching a hole in their contractual limitations or exclusions, and BigLaw does shadow the smaller fish to make sure a small issue doesn't become a big problem and will step in if LittleLaw is screwing it up.

The same folks also worked on 9/11 claims and Superfund stuff as well.[/quote]

Right, so...you don't disagree that your partners aren't in rural Alabama defending a slip-and-fall claim. Superfund litigation can easily expose tens of millions of dollars in insurance money, and the sui generis 9/11 case had literally a billion dollars at stake. A tiny bit different.[/quote]

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