Big ‘I’ Releases Trusted Choice® Legal System Abuse Toolkit
This week, the Big “I” released the Trusted Choice® Legal System Abuse Toolkit to help independent insurance agents educate customers about how legal system abuse can drive up insurance costs.
Frivolous lawsuits and inflated claims—fueled by third-party litigation funding, which allows an investor to provide funding in exchange for a large portion of any settlement—are adding billions to insurance costs. But most consumers don’t know that. Nearly 3 in 5 agents say their customers are unaware of how legal system abuse affects their premiums, deductibles and coverage options, according to a recent Trusted Choice survey.
The Legal System Abuse Toolkit provides simple ways for agents to educate their clients, explain rising costs and advocate for common-sense legal reforms.
More on third-party litigation funding
“Legal system abuse erodes the integrity of the U.S. court system and unfairly forces families and businesses to pay the price,” says Charles Symington, Big “I” president & CEO. “Yet few Americans know about how these predatory practices negatively impact their insurance rates. That’s why it’s so important for the independent agency channel to lead the way in educating their clients and communities about this issue, and the Big ‘I’ is providing the perfect resources to do just that.”
The toolkit provides agents with ready-to-use tip sheets, infographics and talking points on the costs of legal system abuse and how the plaintiff’s side operates. It also offers guidance on how agents and customers can help combat the problem.
“The Legal System Abuse Toolkit equips agents with the tools to explain a complex issue in simple and digestible ways, solidifying their role as a trusted advisor to their customers,” says Kevin Brandt, executive director of Trusted Choice. “We’re committed to empowering Big ‘I’ members with the information they need on this issue so they can help customers understand and navigate this challenging insurance landscape.”
Learn more about the Legal System Abuse Toolkit. Big “I” members can download the toolkit directly.
AnneMarie McPherson Spears is IA news editor.
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