Ambulance Chaser

Filed Under »
Dictionary Says

Definition of 'Ambulance Chaser'

In insurance, a derogatory term for lawyers and other service providers who rush to contact persons involved in accidents with the goal of obtaining business. An ambulance chaser's incentive is often to increase the insurance payments made to victims of an accident, since many are compensated as a percentage of the settlement. On the other side, insurance companies have an incentive to settle claims quickly and for the least cost possible.
Investopedia Says

Investopedia explains 'Ambulance Chaser'

Ambulance chasing is particularly prevalent in states where open records laws allow the general public to obtain accident reports that provide enough information to contact the drivers involved directly. In states where these records are not available, ambulance chasers may instead pursue advertising campaigns to obtain business from recent accident victims.

Articles Of Interest

  1.

    5 Insurance Policies Everyone Should Have

    Insurance policies come in a wide variety of shapes and sizes. Shop carefully and the right policies will go a long way towards helping you protect your assets.

  2. Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.

  3. Choosing The Best Disability Insurance

    Social Security benefits can be hard to collect. Find out why you need disability insurance to protect your income, and learn how to choose the right policy for you.

  4. The History Of Insurance

    The first written policy appeared in Hammurabi's Code. Find out how it evolved from there.

  5. 15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.

  6. Fighting The High Costs Of Healthcare

    If your employer is cutting medical benefits, a health savings account may be right for you.

  7. 5 Things You Should Know About The New Health Insurance Marketplace

    Here are five things you should know about the new Health Insurance Marketplace (AKA Health Insurance Exchange), which launches on October 1.

  8. What changes might I need to make to my insurance policy?

    The number one thing to remember about insurance is that, just like everything else, it changes over time. The top-of-the-line policy that you bought five years ago might not even be available ...

  9. The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.

  10. Life Insurance Clauses Determine Your Coverage

    Understanding these key parts of your policy will help you to ensure that your family will be covered.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...

  2. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.

  3. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.

  4. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.

  5. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...

  6. Bailment

    The contractual transfer of possession of assets or property for a specific objective.
Trading Center