It seems like the news media loves a juicy story about outlandishly large lawsuits that are either for absurd matters or for ridiculous settlements. Even the entertainment industry often dramatizes lawsuit settlements, often giving the world of litigation a bad reputation.
In an effort to stop frivolous or inappropriate lawsuits, many industries have established liability caps to limit the amount individuals or companies can be sued for. While at face value this sounds like a good way to protect people like doctors from being sued to the point of bankruptcy, liability caps aren't always as effective as they like to think they are.
In the world of medical malpractice, the liability caps set by each state are in place to protect the doctors from losing too much of their livelihood should an issue arise. While most medical malpractice lawsuits settle for well under the liability cap, there are still many instances where the victim or their family really need and deserve a settlement above the liability cap.
No one likes the threat of a lawsuit hanging over their head; that's why people form limited liability companies and why many contracts include specific clauses about who is liable for what. Liability is a serious issue when there is a threat of large damages resulting from an accident. My article on liability caps gives the basics of what they are and how they affect lawsuits.
Understanding liability caps is important when you are seeking to file a lawsuit, especially for medical malpractice. Virginia medical malpractice attorney Ben Glass has been fighting to help victims in the Virginia and D.C. areas during their medical malpractice claims. For more information, contact us today - (703) 584-7277.