The President wants to regulate the insurance industry

As our President talks to the nation on his Presidential News Conference, he mentioned that one of his pillars has to do with health care reform. One of his ideas is to regulate the insurance industry, based on the AIG scandal.

The only problem with that, as we see it, this could be potentially dangerous when it comes to settling case for personal injury claims. Although we would not speculate, we could see that if the government steps in, and regulates the industry, they would also dictate how much to pay for claims.

On the other hand, if the insurance companies are regulated, then we would not have the need to cap non-economical damages for claims, which has minimized the results obtain for those who need it the most. Since Texas has a cap, we have seen a raise in negligence by doctors, without having the doctors concern about loosing anything or even feeling sorry for their negligence, since they cannot be touched.

We can only wait to see how our economy is going to affect the way that personal injury attorneys are capable of helping those who have been affected by the negligence of others.

The Baez Law Firm, P.C. is a general practice law firm that is ready to help you during difficult times. We handle bankruptcy, criminal law, personal injury, family law, business law, consumer law, litigation, and appeals.

The ecomony and your personal injury claim

According to the experts, in the last 12 months, the face of the global economy has forever changed. Gone forever are investment banks, the secondary credit market, and an unregulated financial market.

In its place are government ownership of banks, while central banks around the world are propping up the banking system. In September, we came very close to total economic collapse, and we haven't recovered yet.

However, all data seem to point that the insurance companies are thriving during this difficult economic times. Nevertheless, to maximize their bottom line, which is to make money, insurance companies will play on the tough economic times to try to settle claims for pennies on the dollars, which would otherwise be worth something for the injured person.

You need a team of experts on your side, ready to face tough insurance companies that are ready to downgrade your claim. Do not let this economy affect the outcome of your case.

We are personal injury lawyers that handle auto accidents, personal injury, nursing home negligence,premises liability, slip and fall,car wreck,medical malpractice, wrongful death, and other areas of law.

Insurance Coverage Matters

For the most part, before an attorney gets started in filing a claim, the availability and the total amount of insurance coverage will be a major factor in deciding whether the claim can go forward. Typical insurance issues people with serious injuries face are: 1) no insurance coverage (Uninsured motorists), 2) insufficient insurance coverage (underinsured Driver), or 3) Denial of claims, Bad Faith/Tough/Difficult Insurance Companies.

Our law firm The Baez Law Firm, P.C. specializes in providing our clients with the best representation through Texas in relation to car accidents. Our firm will handle your claim from beginning to end. Now, a further explanation of policies are in order.

1) Uninsured Driver. In many cases the driver who is legally responsible for the accident has absolutely no insurance of any kind. In these circumstances it is usually extremely difficult for a person who is injured in the crash to get anything close to appropriate compensation. If the injuries are catastrophic or fatal an attorney will hire an investigator to look for other parties responsible- other insurance "umbrella" policies, related homeowners owners or family members, companies etc but they often come up empty and the the injured person has no way to recover any damages. Because there are so many uninsured drivers you should always buy "uninsured motorist coverage" under your own auto insurance policy.

2) Underinsured Driver. In the event of a very serious injury or death the majority of drivers will have inadequate insurance coverage, usually the minimum required by state law often only around $20,000. This often means that the worst drivers carry the least insurance because they cannot afford the high premiums resulting from their poor driving records. You should always purchase underinsured motorist coverage if it is offered, so in the event you are injured by a another driver without proper insurance you can collect against your own insurance company.

3) Insurance Denial of Claims and Bad Faith. In order to save money insurance companies will often stretch and use imaginative arguments to deny claims. Sometimes these claims denials or defenses are so beyond being reasonable that they amount to what is called legal bad faith- when an insurance company improper fights a legitimate claims or denies one. In most cases these matters are handled through litigation in the courts.

If you have been injured in an accident, contact our law firm for a free initial consultation with one of our attorneys.

Statute of Limitations in Personal Injury Cases

After being in a car accident an injured person should hire an attorney and begin the legal process as soon as possible. Waiting will usually weaken a potential claim through loss of evidence, loss of fresh memories and disorganized paperwork and medical records and the inability of the attorney to direct the process. Waiting too long may result in the case being completely barred by the statute of limitations of the state where the accident took place.