From homeownership to auto insurance, consumers across the U.S. are feeling the sting of rising costs — and not just because of inflation. A growing number of experts point to another, lesser-known culprit: widespread abuse of the legal system.
Tag: legal system abuse
Legal-System Abuse Hurts Insurers, Consumers: AM Best Interview with I.I.I. CEO
Sean Kevelighan, chief executive officer of the Insurance Information Institute, discusses how so-called nuclear verdicts, litigation funding and other legal-system abuse drive up claims costs and ultimately lead to higher premiums for consumers.
Beyond Severe Weather: Man-Made Crises Roiling P&C Insurance Market
Thirty years after Hurricane Andrew’s landfall in Florida, one of the nation’s costliest and most consequential natural disasters in history, the American Property Casualty Insurance Association (APCIA), the Reinsurance Association of America (RAA), the Association of Bermuda Insurers and Reinsurers (ABIR), and Robert Hartwig, PhD, CPCU published a joint paper, “It’s Not Just the Weather:… Continue reading Beyond Severe Weather: Man-Made Crises Roiling P&C Insurance Market