In this post, Clarissa Cerda talks about the strategies she used as General Counsel and Chief Legal Officer to turn her legal department from a cost center, into, as she calls it, a “hooray center” for the company.  With the assistance of insurance recovery counsel, Clarissa brought in so much money that, one year, the legal department was responsible for a significant amount of the year end employee bonus pool.

Is Cost Cutting the Answer?

Businesses often think of their legal team as a necessary cost that they have to bear.  Accordingly, many large organizations, for good reason, pay considerable attention to limiting legal expenditures.  Here, much has been being borrowed from the insurance industry.  See AIG Announces Its Creating a Legal Ops Consultancy.  Cutting costs alone, however, will not turn a legal department from a cost center into a profit center.  

Turning a Legal Department Into a Profit Center

One of the critical differences between insurance recovery law and other legal disciplines is that insurance recovery law has the potential to generate significant revenues for the corporation.  See Insurance Recovery Lawyers as Profit Centers.   With insurance recovery law, incredible results can be transformative for a company.  Please watch the video and learn how Clarissa turned the her legal department into a profit center.  

 If you have an insurance claim and would like similar results please give us a call. 

(more…)