How Insurers Are Combating Legal System Abuse
Public perception is shaped by various factors, such as seeing high earnings in professional sports, corporate executive compensation, and large corporate financial events.
Insurers need to handle claims strategically, without being deterred by the possibility of a nuclear verdict, which can lead to inflated settlement values and hesitation to proceed to trial.
Some ad campaigns suggest that insurance companies, rather than individuals, are responsible for paying large verdicts and settlements.
The theory suggests that jurors are influenced by their instinctive desire to protect their community or family, and thus may render large awards in cases as a deterrent for future misconduct.
Studies and statistics indicate that certain age groups, specifically 18-29 and 50-59, are more inclined to award larger sums in verdicts.
