Should Our Attorney Know the Insurance Company Went Bankrupt?
We have some serious doubts about the way our lawyer has handled the case. We would like another lawyer to review the records to make sure everything is on the up and up.
The insurance company had offered settlements, was it not up to our lawyer to tell us the insurance company was going bankrupt?
So much of this makes no sense. This is a well-known group of attorneys in Chicago and we would like some advice.
–Dawn, Frankfort IL
I can tell you that an attorney has really no reasonable way of knowing that an insurance company is going to go bankrupt. No attorney studies the finances of insurance companies in order to predict bankruptcy. Professional brokers who deal in stocks in the stock market cannot predict a bankruptcy. No court would hold that an attorney is under an obligation to evaluate the financial underpinnings of an insurance company (unless for some reason it was obvious to the lawyer) in order to predict a bankruptcy.
I am sorry. I wish I could help.