My spouse’s best friend is joining one of the largest insurance companies as claims counsel. This is a huge opportunity to create a large book of business, but my spouse is an associate without a percentage arrangement in place. Am 120.

How would you recommend going about this? What is a normal percentage on collections?

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He should confirm with his best friend that he will actually be receiving work from him. Once he does and has an idea how much work it will be, he should address it with the partners at his firm. If he’s not given origination, he should start interviewing.

likesmart

best of luck to her!

I think youe spouse should go to the partners and see what their offer is. How close is your spouse to making partner?

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Maybe a year or two. She is 6th year.

Thank you for taking the time to respond! I appreciate it

My recommendation would be your spouse to first approach one senior partner that they trust and get their advice about how to handle this situation. Depending on the firm’s structure and existing relationships, there may be another colleague or partner who already has a relationship with this particular carrier. In that case, there would need to be discussion about origination splits with whoever that is. the trusted partner will likely know about this.

Assuming that the carrier is not already a client, then this is an opportunity to do something really good for the firm, and your spouse wants to make sure that it makes sense for everyone.

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