Sounds like some posting on here are morally obligated to cancel their insurance policies and go bare based on their professed hatred of insurance companies... Of course they will have to surrender their driving license
Most States have the ability to sign an affadavit of self-insurance, if you have the assets. For most who can, they don't, because the monetary risk is too high. But insurance is not truly 100% required.
There is no such thing as a moral corporation... They are amoral and obligated by law to maximize their profits for the owners (you and me as mutual fund shareholders)
I disagree. This is the modern interpretation of it, but when companies have smart, non-Asperger's Syndrom folks running the place, the humans involved sometimes WILL make judgement calls that might mean a slightly poorer outcome for the company TODAY in order to retain employees and show true leadership and good behavior. "Corporations" don't exist in a vacuum. There are humans running their every move.
Or maybe you're saying we should ban Corporations and go back to companies with named humans in charge who are individually liable for the company's actions. I could see that maybe being what you're saying. It's ugly, but it'd change the world dramatically if no one had to pierce a Corporate veil, ever. Find the human who made the decision and hold them truly responsible... never a bad thing in the long run.
There is no such thing as a lawyer with a heart when acting in professional capacity... They are obligated toeffectivly represent their client and take EVERY action that is in their client's best interest...
Again, they're human and many can and do fudge this up to the limits of getting caught and disbarred. But people who know when something is wrong morally and live it through their actions, are always better people to be around, build your society around, and overall are better in the long term for everyone. Blindly hiding behind the "I did the very best I could for the customer" when the customer is a fake entity, a Corporation, is a sign of the overall illness we face as a society. No morals, no common sense, no civility, so let's replace them with libraries of inane laws only professional excuse-makers can possibly fathom.
They spend their time at school learning to debate, and then waste everyone else's time by going into politics and creating more and more and more things for themselves and their colleagues to debate over! And they get paid by the hour. Isn't that obviously a broken never-ending cycle, from a purely system's engineering standpoint?
Simple common sense answer: I bought an underinsured motorist policy, someone killed me, they were underinsured, insurance company pays, family grieves, life goes on.
Lawyer answer: See pages and pages of answers from one of our resident lawyers justifying it all via laws that aren't even the same from State to State, sometimes from City to City, that make no sense to anyone who applies the Simple common sense answer.
Two things seem very appropriate to fix the U.S. system, but won't be applied as long as the majority of Congress are American Bar Association members...
1. Corporations should not have the same rights as a human. Many countries don't do this, and after studying about it, it seems to match the common sense rule. No company has more or equal rights to a Man.
2. Loser pays. Period. There's major problems with this, but it's utterly insane that someone can go bankrupt defending themselves against a claim they know in the end, they will prevail on.
3. A more controversial but interesting idea someone floated my way once... Corporations can't sue someone or something unless a majority of their employees and/or shareholders agree. If they're really just a conglomeration of their people... well, it's has huge problems, but it was an interesting idea, nevertheless. In theory the Board of Directors would be in the loop, but using the example case we're talking about here, and the size of the company, I doubt they were even aware of this "piddly" lawsuit. A lawsuit that to this Corporation, is nothing in terms of overall revenues, but which is life-changing for this family. That's the size/clout/monetary difference that's really broken our system today -- a Corporation may simply THREATEN to sue almost any individual and know that the individual will be bankrupt in 24 hours if they choose to defend. Similar sentiment with individuals threatening to sue Corporations.
If not loser-pays, here's a funny thought that'd be HATED by lawyers... the Corporation has the same legal budget the other party does. If I can only afford to hire a $25/hr lawyer, and only one, that's what you get to hire too. LOL! That one is tongue-in-cheek, of course, but it shows the crux of the problem.