For insurers, the news is almost too good to be true! Richard “Dickie” Scruggs, scourge of the industry, the moving force behind a stampede of lawsuits over wind vs. water damage in Hurricane Katrina, was indicted yesterday on federal bribery charges.
As reported by our own Dan Hays (click here for the full story), Mr. Scruggs, along with four other attorneys (one of whom was his son), is accused of conspiring to bribe a state court judge.
The news comes on the heels of another “stop the presses” moment this week–the announcement by Sen. Trent Lott, R-Miss., that he'll be leaving Congress before year's end. (See yesterday's blog entry for details.)
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