> Really curious what school is this?

My local university. If you want the specific school, my handle is associated with my real-world identity. It won't be hard to figure out.

> Pricing the value of in-house counsel is an interesting problem in itself (because they typically don't bill by the hour).

Absolutely!

> One could use an insurance policy pricing model (the worst that could happen is a very costly loss in a lawsuit) to determine what's the counsel protecting the company from.

Also true. The lack of cost analysis in my classes worries me very much.