Posted On: March 20, 2006, 2:23 pm CST

Posted By: LLCJ

Wow, was this article linked on triallawyers.com? Were all of you rallied to comment?

The simple fact is this:

-Tort costs are skyrocketing.
-Legal defence costs are skyrocketing.
-Insurance companies are prohibited by insurance depts. from increasing their premiums to compensate.

Take a look at Med Mal. If it was such a profitable venture, where are all the players? Market exodus seems to be the story of the industry. The number of players has gone down substantially from even 7 years ago. Why? There simply are no profits!

If it truly was an issue of compensating victims, then why do plaintiff attornies go after parties not directly involved? Take the Rhode Island Night club fire? Who is being sued? Home Depot, among others. Why? They have the deeper pockets. This, in turn, increases insurer defence costs, because each named defendant has to spend defence money, even if they are not even remotely responsible.

Please, lawyers, don't tell me this is a victims' rights issue. It may not be a pure money grab like others say. But it surely is a lot worse than the trial lawyers lobby makes it out to be.