Thursday, October 02, 2008

Economy Drives Frivolous Lawsuits Way Up

Speaking with our USAA Insurance Agent the other day, the topic came up that this particular insurance carrier is experiencing a large increase in the number of lawsuits it needs to defend its members against. It turns out that the failing economy is driving many persons to comb through old records involving accidents they were in, hire a sleazy, crafty lawyer, and slap a quick lawsuit together in the expectation that the insurer will generate a quick settlement. Easy cash, is the expectation.

There is, checking around the web, also evidence that the rate of employee-filed lawsuits against their employers is way up, also, in addition to person-to-person lawsuits.

Filing frivolous lawsuits in the hopes of a quick payday is a clear sign of the rising level of desperation among struggling homeowners, and the vultures they attract.

Whether you're an individual or business, check your insurance policy, and make sure it's up to date with appropriate liability coverage against lawsuits.

Check also with Loudoun - South Riding Insurance for more local policy options.

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