San Diego County Supervisor Jim Desmond has criticized California's insurance regulations that were implemented on the “final line” before the Los Angeles County wildfires.
American home and car insurance premiums have skyrocketed for years, with inflation, increased losses from natural disasters, and rising repairs and construction costs all playing a role.
However, the industry points to the key factors behind accelerated premiums that are often overlooked. This is an increase in litigation and payments that sacrifice the costs of insurance companies.
The APCIA says the average American will pay $4,200 “tort tax” due to rising costs associated with abuse of the legal system. (ISTOCK / ISTOCK)
David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA), has told Fox Business that the industry is currently suffering from hurricanes and wildfires, insurance regulatory dysfunction in some states, and threats. Facing it He says he is facing being. Tariffs are rising even further, saying, “Our top priority is the major cost driver that has a major impact on insurance availability and affordability, so we are still addressing abuse of the legal system.”
Apcia says American households will pay “illegal taxes” in more than $4,200 due to unnecessary and abusive lawsuits that increase the costs of products and services such as food and gas.
Auto insurance premiums skyrocketed in 2024. Drivers in these states pay the most
Insurance products have seen an average personal injury verdict swell over the past decade, showing data showing a 319% increase, up from around $39,300 in 2010 to over $125,300 in 2020.
The APCIA points to data showing median personal injury awards in the United States, which has more than tripled over the past decade. (APCIA)
Sampson said the nuclear verdict is defined as a juice verdict that costs more than $10 million, but continues to rise, with the top 100 verdicts averaged between $64 million and $225 million over the past six years. has increased by 350%. “It's totally unbalanced with the legitimate damage there.”
He provided examples of daily legal abuse.
State Farm asks California to approve post-wildfire fee hikes
One is a ju umpire, and lawyers try to influence the ju umpire by throwing out astronomical numbers for the award. He said that when his lawyers put the ads that his client had won $20 million for a car accident, they put out astronomical figures that were unrelated to the particular case involved and ju-described He claimed that by trying to change his way of thinking, he was trying to influence the juju politician's pool.
Former California representative Ted Gaines discusses why rules and regulations enforce some insurance providers from Golden State in the “final results.”
Another legal abuse is Phantom's damages, and the plaintiff's lawyers say how much the victim has to claim against the health services, as opposed to the amount actually paid by the health insurance company in the contract with the hospital. You can show the ju apprentice if this has been done.
Because facility liability is one of the biggest sources of legal abuse, several states are imposing reforms to ensure that they are liable only for those directly controlled by property owners and businesses. Masu.
Will hurricanes and wildfires raise insurance prices nationwide?
The practice of plaintiffs' lawyers brought in outside investors to try to influence the litigation process through foreign litigation funds (TPLF). For American companies.
Legal abuse has skyrocketed, accelerating the rise in insurance rates, according to the APCIA. (Joe Raedle / Getty Images / Getty Images)
Sampson says in such cases the victim no longer controls his case. This means that it cannot be resolved without the permission of those who are investing and funding these cases.
“You basically turned the judicial system into a casino. These major investors want to make it rich in these suits.
Click here to get a FOX business on the go
“We are fortunate enough to see it in some of these major lawsuits, and in some of these individual personal injury cases, as well as more problems — that is the entities you are supported for the country's economy. You can see that you know that you have a foreigner, foreign person, or foreign person [Chinese Communist Party] Others who fund these third party litigation also file lawsuits against major American industries, particularly in the technology sector, and use these lawsuits to intellectual property through the discovery process. You try to gain access. ”
