American Integrity Insurance Company reposted this
The surge in "nuclear verdicts," (jury awards of $10 million or more) is resulting in a hidden “tort tax” for consumers. These mammoth payouts are not only driving up costs for industries like trucking and retail but also impacting the prices of goods and services, putting a strain on finances and risking business operations. Some business owners are pushing for more transparency in litigation funding and reforms within the legal system to tackle the challenges brought by these hefty verdicts. They're urging for transparency in funding to ensure that everyone involved in a case, including potential jurors, knows who's financing the legal battle. Industries like trucking are feeling the squeeze as insurance costs skyrocket due to these large verdicts. Without reform, there's a real risk of insurance becoming unaffordable, adding more financial stress on businesses. This could spell trouble for business survival and financial stability, especially when companies are already facing tight margins and financial pressures. Ignoring these challenges could have significant financial consequences on Florida businesses and consumers alike. https://lnkd.in/e6e5j8tX
