Good News for Law Firms

Submitted by cgi on Fri, 05/26/2017 - 10:30

Sometimes it’s nice to focus on the good news. Below are some positive happenings for Social Security disability and personal injury attorneys.


SSD Average Fee

Social Security disability attorney fees are the highest since 2010. The average fee from January 2017 to April 2017 is $3,131.07. This is up from $3,027.06 in 2016 and up from a low of $2,848.76 in 2013. While this might not seem significant, the average fee increased $282.31 or 9.9% per case since 2013. An attorney that wins 120 Social Security disability cases per year would see an increase of $33,877.20. Hopefully average attorney fees continue the trend of increasing every year since 2013.

YearAvg Fee
2011$3,124.31
2012$2,961.25
2013$2,848.76
2014$2,867.37
2015$2,959.35
2016$3,027.06
2017$3,131.07

https://www.ssa.gov/representation/statistics.htm


Monthly Social Security Fee Payments

The Social Security Administration paid $128,806,205.02 in attorney fees in March of 2017. This is the highest monthly amount since $130,690,281.94 was dispersed in March 2013. This is a huge increase in fee payments for attorneys compared to the average of $91,143,116.76 in 2016.

Month-YearFee payments to attorneys
Jan-16$88,489,309.52
Feb-16$97,628,808.98
Mar-16$95,039,003.59
Apr-16$113,751,132.64
May-16$91,440,370.09
June-16$77,514,654.58
July-16$100,686,709.72
August-16$93,742,563.18
Sept-16$84,867,037.66
Oct-16$77,878,080.74
Nov-16$81,388,717.58
Dec-16$91,291,012.79
Jan-17$80,055,048.23
Feb-17$92,134,157.30
Mar-17$128,806,205.02
Apr-17$99,393,275.69


Minimum Auto Insurance Limits

Several states are introducing legislation that would increase the minimum mandatory insurance limits. Connecticut has introduced a bill that will change the mandatory amounts from $20,000 per person, $40,000 per accident and $10,000 for car damage to $30,000 per person, $60,000 per accident and $25,000 for car damage. As of 5/22/17, the bill passed the CT Senate and the House will vote on it shortly.

Arizona is also trying to increase the mandatory limits from $15,000/person, $30,000/crash and $10,000 for car damage to $25,000/person, $50,000/crash and $25,000 for car damage. This bill has passed the AZ Senate and is waiting on the House vote as of 3/2/17.

Nevada just passed a bill on 5/23/17 that increases their limits from $15,000/person, $30,000/crash and $10,000 for car damage to $25,000/person, $50,000/crash and $20,000 for car damage.

An increase in policy limits would likely increase personal injury attorney fees, since settlement amounts often increase with medical bills.

http://www.ctnewsjunkie.com/archives/entry/op-ed_increasing_min_mandatory_auto_insurance_limits_help_urban_residents/
https://cronkitenews.azpbs.org/2017/03/02/arizona-lawmakers-debate-bill-that-would-raise-minimum-auto-liability-insurance/
https://openstates.org/nv/bills/79/SB308/


Love is in the Air

Now onto the best news - our Director of Client Services, Nadya Karpova, is getting married. During a vacation in France, her long time boyfriend planned a fairytale engagement. He proposed in a rose covered, candlelit room of the Chateau Vaux-Le-Vicomte to a fireworks show.