I wonder if attorney’s have really thought this through. If by chance they should be able to pull off this coup, and an indefinite number of insurance companies lose their surplus and are placed in liquidation, who’s “deep pockets” are they going to go after then. Or, when we have to explain to insured’s that their premiums have doubled, tripled or quadrupled will we be able to site the insanity of attorney’s for making companies pay for an uncovered peril? Just some thoughts on the matter!
Surely you jest. The only thing a plaintiff attorney thinks about is how much money they can make. The social consequences of their actions …… HA! Who cares. Here in Texas, we have the solution. Allowing employers to “nonsubscribe” to the workers compensation system has been legal from the very beginning. In the late 90’s, when the system was drowning in bogus claims and doctor shopping, employers opted out in droves. The system has re-balanced, but a significant number of employers are still out. If the lawyers are successful, there will be no work comp carriers.
In response to Tx Peon: “Poor Insurance company. They had over 600 million in profit 4th quarter 2019. Forgive me if I don’t cry for them actually having to pay claims.”
Coca-Cola’s return on equity over the last 5 years: 29.4%
Travelers over the same period: 11.4%
Conclusion – most businesses are expected to make money, and selling sugar water has much higher margins than insuring things.
I wonder if attorney’s have really thought this through. If by chance they should be able to pull off this coup, and an indefinite number of insurance companies lose their surplus and are placed in liquidation, who’s “deep pockets” are they going to go after then. Or, when we have to explain to insured’s that their premiums have doubled, tripled or quadrupled will we be able to site the insanity of attorney’s for making companies pay for an uncovered peril? Just some thoughts on the matter!
Surely you jest. The only thing a plaintiff attorney thinks about is how much money they can make. The social consequences of their actions …… HA! Who cares. Here in Texas, we have the solution. Allowing employers to “nonsubscribe” to the workers compensation system has been legal from the very beginning. In the late 90’s, when the system was drowning in bogus claims and doctor shopping, employers opted out in droves. The system has re-balanced, but a significant number of employers are still out. If the lawyers are successful, there will be no work comp carriers.
It’s the Snake eating it’s tail.
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In response to Tx Peon: “Poor Insurance company. They had over 600 million in profit 4th quarter 2019. Forgive me if I don’t cry for them actually having to pay claims.”
Coca-Cola’s return on equity over the last 5 years: 29.4%
Travelers over the same period: 11.4%
Conclusion – most businesses are expected to make money, and selling sugar water has much higher margins than insuring things.