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Started By
Message
re: Louisiana may now rest easy- the torts have been reformed
Posted on 7/1/20 at 9:16 am to Ash Williams
Posted on 7/1/20 at 9:16 am to Ash Williams
quote:
“Most would rather pay the jury bond and pay the defense attorney a few grand to try it before paying that money to plaintiff's counsel. “
A few grand? How about lots of grands for defense bill mills until the carrier audits and finds out the defense Counsel Could have settled for 1/4 of the amount the defense lawyer billed. I’ve been on both sides- I still believe economics on this issue is best and the high billing model doesn’t dissuade suits.
0
Posted on 7/1/20 at 9:19 am to SlowFlowPro
quote:
it's just about hurting plaintiffs
...who typically aren't actually hurt
Posted on 7/1/20 at 9:25 am to ExtraGravy
quote:
Ah, now we see. So the law won't actually do anything. But it's already ALMOST helping. All we need to is to just pass some more "reform" next year and see if that helps.
A win at this point would be if rates hold steady or future increase are less...
It took decades to built this shitty system, it will take almost as long to fix it, especially since this system benefits people who become politicians and donate to politicians.
Posted on 7/1/20 at 9:26 am to SVGSZN4408
quote:
...who typically aren't actually hurt
i don't see anything in this legislation about harsher regulations on health care providers. do you?
if you believe people who aren't hurt are abusing this system, then your issue is with HCPs and not jury thresholds
Posted on 7/1/20 at 9:33 am to Upperdecker
You couldn't prior to this legislation. Statute prevented you from mentioning it. Called the seat belt gag rule.
Posted on 7/1/20 at 9:33 am to ExtraGravy
If more insurers move in then competition will drive down rates.
I am skeptical that this bill will entice more insurers to move in.
I am skeptical that this bill will entice more insurers to move in.
Posted on 7/1/20 at 9:36 am to biglego
quote:
If more insurers move in then competition will drive down rates.
Question for the uninformed. Is part of our problem hurricanes / floods? Companies don't want to write home because of hurricanes / floods and don't want to do auto alone? Yes, I know they have nothing to do with floods but still seems like a mess to deal with and a lot of finger pointing on was it a flood or not.
Posted on 7/1/20 at 9:37 am to SlowFlowPro
quote:
i don't see anything in this legislation about harsher regulations on health care providers. do you?
if you believe people who aren't hurt are abusing this system, then your issue is with HCPs and not jury thresholds
Truth. This really only impacted one area. It doesn't seem to impact the HC or Insurance side of things.
Posted on 7/1/20 at 9:39 am to ExtraGravy
quote:
I do keep seeing we have more uninsured drivers than anyplace else.
Louisiana is not even top 10 in uninsured motorists.
LINK
Posted on 7/1/20 at 9:41 am to lsu13lsu
Good question. I don’t know the answer but Louisiana is not the only state that deals with floods and hurricanes.
Posted on 7/1/20 at 9:43 am to biglego
quote:So will anyone explain why uninsured motorists supposedly raises my rates?
Louisiana is not even top 10 in uninsured motorists. LINK
Posted on 7/1/20 at 9:45 am to biglego
Yet we have the second to highest insurance rates.
It’s obvious none of our politicians care about the folks. Attorneys and insurance companies do really well at our expense.
It’s obvious none of our politicians care about the folks. Attorneys and insurance companies do really well at our expense.
Posted on 7/1/20 at 9:45 am to biglego
quote:
Louisiana is not even top 10 in uninsured motorists
Just looked up the same exact thing. I had always heard this was the reason our rates were so high.
We are at about 13% uninsured, which is the national average. Florida, for example, has 26% uninsured and is #1.
Percent Uninsured
Posted on 7/1/20 at 9:46 am to White Bear
That is as of 2015 but we are still Top 20.
#10 is 15.6%. We are at 13%. It isn't like we are killing it.
#10 is 15.6%. We are at 13%. It isn't like we are killing it.
This post was edited on 7/1/20 at 9:48 am
Posted on 7/1/20 at 9:50 am to Buryl
quote:
Just looked up the same exact thing. I had always heard this was the reason our rates were so high.
We are at about 13% uninsured, which is the national average. Florida, for example, has 26% uninsured and is #1.
Alabama has the sixth highest uninsured motorist rate snd their insurance rates are 26th highest.
Uninsured motorist isn’t our biggest problem.
This post was edited on 7/1/20 at 9:51 am
Posted on 7/1/20 at 10:11 am to Buryl
quote:
Florida, for example, has 26% uninsured and is #1.
Florida also doesn’t require those with insurance to have bodily injury so the rate of Underinsured folks is also very high.
Posted on 7/1/20 at 10:25 am to Twenty 49
quote:
So my State Farm bill will go down by what %?
Equal to the COVID-19 fatality rate.
Posted on 7/1/20 at 10:48 am to theronswanson
quote:
Let’s have a reminder to revisit this thread in a year and see how this pans out. I doubt that the average Louisiana driver will see any noticeable difference in their premiums.
This is a very narrow view.The rates don't just automatically drop with this bill. The rating is based upon historical data over a few years. It will take 3 to 4 years to determine if the changes were beneficial.
This post was edited on 7/1/20 at 10:49 am
Posted on 7/1/20 at 11:15 am to SlowFlowPro
I never mentioned anything about the jury threshold.
There are plenty of accidents with significant and legitimate injuries - those cases are not going to be impacted by a reduction of the jury threshold from $50,000 to $10,000 (aside from potentially delayed trial dates), as their cases were already going to exceed the $50,000 threshold. I don't think the jury threshold change will have much impact on the plaintiff firms that primarily handle these types of cases. Rather, the brunt of the impact will be felt my the quantity over quality type firms that take on all of these minor, fender bender type accidents with less than $5,000 in property damage and who turn around making unreasonably high, sometimes six-figure settlement demands.
Of course there are issues with the HCP recommending unnecessary and prolonged treatment for minor/non-existent injuries. But, those issues are greatly aided by some - not all - of the plaintiff's bar symbiotic relationship with those particular HCPs and legislation such as the collateral source rule.
There are plenty of accidents with significant and legitimate injuries - those cases are not going to be impacted by a reduction of the jury threshold from $50,000 to $10,000 (aside from potentially delayed trial dates), as their cases were already going to exceed the $50,000 threshold. I don't think the jury threshold change will have much impact on the plaintiff firms that primarily handle these types of cases. Rather, the brunt of the impact will be felt my the quantity over quality type firms that take on all of these minor, fender bender type accidents with less than $5,000 in property damage and who turn around making unreasonably high, sometimes six-figure settlement demands.
Of course there are issues with the HCP recommending unnecessary and prolonged treatment for minor/non-existent injuries. But, those issues are greatly aided by some - not all - of the plaintiff's bar symbiotic relationship with those particular HCPs and legislation such as the collateral source rule.
Posted on 7/1/20 at 11:18 am to goofball
quote:
I like Apple Torts the best.
Testicular torts are the worst.
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