Tuesday, October 23, 2012
A Baltimore City jury recently awarded $760,000 to the family of a woman tragically killed in a 2010 Maryland car accident. As experienced Maryland car accident lawyers know, the value of a claim is often capped by the amount of insurance. There apparently was $100,000 in uninsured/underinsured motorist coverage. The amount of insurance held by the at-fault driver is unknown, but most Maryland car accident lawyers would agree it is highly unlikely that it was $660,000.
Wednesday, October 3, 2012
A number of recent posts have dealt with the collective mentality of the insurance industry, well know to Maryland car accident lawyers. One example bears some attention. AIG is a major insurer that was ‘managed’ to the extent that it needed $170 billion dollars in taxpayer capital infusion just to keep from going under. “Too big to Fail”, AIG is now 80% government owned. When it got the bailout money, designed to keep it afloat, AIG earmarked 165 million to be paid, as bonus money, to the ‘managers’ that put the business in that position to begin with! 7 high ranking executives were to get more than 3 million in bonus money. [The New York Times, 3/14/09.] Many of my Maryland car accident lawyer colleagues wondered what kind of business rewards a performance like AIG’s with bonus money?