The LAT takes a swipe at insurers too, arguing that insurers are raising doctors' premiums at a time when their loss payouts have declined. The LAT attributes this to insurers' "business models and financial investments" instead of their "core businesses." The LAT seems not to understand that financial investments are an essential part of an insurance company's core business.
California's cap should be raised to compensate for inflation. But even if it had been raised, no lawyer would take the case of the 72-year old woman's death on a contingent fee basis. Many will not take any case on a contingent fee basis, because it requires a commitment of capital and resources without any assurance of a satisfactory return. It requires lawyers to gamble.
The exceptions to the no-contingent-fee rule may include public interest law firms, class action law suits and law suits against the Catholic church.
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