How Insurers Are Combating Legal System Abuse
Studies and statistics indicate that certain age groups, specifically 18-29 and 50-59, are more inclined to award larger sums in verdicts.
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.
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.
Litigation funding can provide plaintiffs with resources that exceed the actual value of the claim, which could encourage them to pursue higher settlement numbers that may not be realistic or reasonable.
Public perception is shaped by various factors, such as seeing high earnings in professional sports, corporate executive compensation, and large corporate financial events.
