The announcement that the compensation culture is costing the UK insurance industry £10bn a year in legal fees suggests to me that the first step in equalisation of the world economies should be a return to the law of negligence.
This would include damnum sine injuria, also feasance and non-feasance, for liability insurance and would help by putting an end to the belief that "if you've had an accident, you've got a claim".
John Lynch
IAS
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