This Op-Ed from Dr. Robert Hartwig highlights the new litigation favoring bill in Virginia. The passage of SB 256 by the Virginia General Assembly during a period of inflationary pressure raises concerns about its potential impact on auto insurance premiums. The bill introduces a first-party bad faith law, benefiting trial lawyers and potentially leading to increased litigation, as seen in other states. An analysis by Milliman Inc. estimates a premium hike of 5.6% to 14.3%, translating to a median increase of 9.9% annually per policyholder. This comes amidst already rising insurance rates due to increased repair and medical costs. Moreover, recent legislation and impending minimum liability coverage increases further exacerbate the financial burden on Virginians, potentially leading to more uninsured drivers. Governor Youngkin’s veto could prevent these adverse effects, maintaining existing consumer protections and averting unnecessary litigation and cost escalations. Read more about the article by clicking here.