Posted on 03/13/2006 5:25:41 AM PST by Brilliant
So how does the "rate of increase" in cost of frivolous torts compare to the rate of increase in medical coverage costs???
That "may" be in the article, but I'm not about to register for the WSJ just to read it (and yes, I know about "bugmenot", which never works).
And that is the problem in a nutshell. As long as the tort lawyers can identify the point where settling crap suits is less costly than fighting and winning them, they have a gold plated money machine. They win either way: quick settlement or lots of billable hours. The only solution I can see to stop the frivolous suits is a loser-pays system.
"The carrier paid a couple of grand to make it go away because it was not worth the cost of defending."
These are nuisance value settlements. Like most decisions on resolving cases, it is a business decision meant to save on the attorney fees and litigation expenses.
As long as the plaintiff's bar continues to take these BS cases, the wheels keep turning.
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