Driven by Third Party litigation funding, lawsuit advertising, and just plain inflation, lawsuits are becoming more prevalent and more damaging. There has been a 27% increase in large lawsuit verdicts over the last 10 years.
“excessive speed accident resulted in a $10M lawsuit”
Here are a couple real life examples:
Failure to put the car in park – car jumps the curb and injures 2 individuals inside a retail store – $5m paid
Spring break golf cart accident – golf cart driver hit a vehicle and the passenger of that car sued for damages. $160,000 paid to the attorney, case dismissed
Good friend test driving a High Performance Sport Car – insured allowed a friend and acquaintance to take a spin of the insured’s high-performance car. Excessive speed accident resulted in a $10M lawsuit.
Lawsuits happen more often and the results are more dramatic financially. Having ample Excess/Umbrella liability coverage is the best choice for being protected.
Kyle’s extensive sales and account management expertise transcends both Commercial and Personal Lines. Coupling that with his finance and life insurance licenses, Kyle serves as full service insurance agent for all of his valued clients. The goal for Kyle is to provide tailored risk management to address his client’s current and future exposures, and to optimize wealth preservation.