I am apparently one of those “greedy lawyers” you lambaste in your editorial, picking on those poor, innocent insurance companies. Unfortunately, this is not the first time that injured people, through their lawyers, are being scapegoated by insurance companies for raising their insurance rates. There is no evidence that insurance rates rise as a result of settling cases with legitimate claimants.
A sweeping proposal to change Louisiana’s legal system to drive down costs for auto insurers, a measure proponents say would reduce auto insur…
Rather, the evidence has always pointed to insurance executives and their ilk raising their compensation and expenses to extravagant levels. In 2018, Forbes published an article entitled “Executive Compensation Is Out Of Control. What Now?”. It reported that CEO salaries, in general, averaged $20.7 million, 376 times the pay of typical workers. One of those featured, State Farm’s CEO, earned $8.5 million, according to the Illinois Department of Insurance. You must be shedding crocodile tears for these poor, insurance companies and their executives. So, before making these attacks, please investigate the facts and cite the evidence. That would be refreshing.
M. H. “Mike” Gertler