A quick question for the lawyers. If you prepresent someone who needs your services and they go after a person, do you typically look at how much coverage they have and use that information to formulate your request? Why ask for $2M if they are covered to say $500K? If they have $2M umbrella policy, would you ask for $2.5?
My agent states that lawyers will ask for what they determine to be the right amount based on the injuries. I tend to believe they are a little more altruistically selfish than that and will ask for whatever maximizes their bank account.
I have an Umbrella, but I tend to believe it ultimately benefits the lawyers.