Another unfortunate outgrowth of our litigious society is the increasing tendency of insurers and policyholders to settle
claims in court.
Cummins is tussling with several insurance companies to try to recover damages from a flood a year ago that inundated some
of its offices in its hometown of Columbus.
The greater the claim, the greater the chances the issue will be settled in court, as IBJ reporter Peter Schnitzler reported this week.
These court battles are expensive and time-consuming. Do you see anything on the horizon that might reverse the trend?
Or will economics of litigation â?? not the letter or spirit of the contracts â?? be the ultimate arbitrator?