The firm has collected so much in fees that its lawyers call one portion of their office building the "Milkovich wing."
These must be exhausted before the firms collect a dime from their insurance carriers.
The agreement with the firm, which has headquarters in Philadelphia, will put a ceiling on the amount the firm can collect.
He said that the firm "might have collected whatever we wanted maybe 10 days before" a recommendation.
From those three states alone, Mr. Rice and his firm will collect about $1 billion in coming years.
The firm has collected such data since 1999.
The firm also collects 25 percent of the profits on recent investments, up from the 20 percent it once charged.
It said the firm had collected $282 million of the amount as commissions.
The firms collect fees from hedge fund clients and pay sources as consultants.
The firm collects ideas from a client's executives, front-line workers, or other departments and staff.
