Trial Lawyers Exploit the Public for their Profit
Shady trial lawyers have been exploiting businesses and consumers for decades using inaccurate damage claims in court. As a small business owner, I know that accidents happen, and victims need the help they deserve. But what I can’t wrap my head around is how lawmakers have allowed gaping loopholes in Florida’s legal system that incentivizes lawyers to cover up the true cost of medical procedures and inflate the damages they seek in court.
In fact, this is such a big problem that most companies, afraid of having to pay these crazy high costs, settle out of court just to put these lawsuits behind them. Most small businesses don’t have the resources to fight these battles in court. Lawyers count on this easy money and know they will never have to argue many of these cases in front of a judge.
Of course, Florida businesses are forced to raise prices to offset this added legal risk. It particularly affects our insurance rates since insurers are usually the ones on the hook. Ever wondered why we are consistently listed as having some of the highest insurance premiums in the country? Unfortunately, the real losers are small businesses, employees, and consumers.
As business expenses increase, the business owner is forced to either cut jobs or raise prices, or both. Amid a recession and record inflation, lawmakers must prioritize cleaning up this mess. We need accuracy in damages reform now.