FFT22
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Bill, can you say a little more about this, just out of curiosity? Is it because of some insurance you have to buy to fly other people? What kind of flying were you doing that isn't viable business-wise anymore? Do you know of others this has happened to in this industry or a similar one?
Yea, exactly. More often than not, comments like this stem from organizations like
The US Chamber of Commerce and the Institute for Legal Reform, both of which, contrary to what they sound like, are lobbying arms for the insurance industry. The US Chamber of Commerce has zero to do with government.
They create hundreds of websites in an attempt to make it appear that the campaign against "lawsuit abuse" is a grassroots effort - it isn't, it's bought and paid for by the insurance industry. To the insurance industry, reform means making it more difficult to sue an insurer (the same insurers who denied thousands of valid Katrina claims and were hit with bad faith damages over and over again, which were upheld by the Supreme Court). These are the people who float the idea that lawsuits raise insurance premiums.
Interestingly enough, Louisiana is middle of the pack in their own studies of court systems. LA is not considered an overly favorable state for lawsuits, yet they still push for reform here.
Of course, our insurance car insurance premiums are high because insurers rate us as the least safe driving state, and our property insurance premiums are high because insurers rate us as likely to be hit by natural disasters.
Still, they float overly suggestive polls like this one, and then use that to back up claims that our insurance rates are high because of lawsuits, and not the actual reasons they would be high. If you believe it, you're a sucker. (and by the way, half the reforms they propose are unconstitutional)
Sample question: do you think lawsuit abuse is bad?
Let's apply this the other way - do you think homeowner abuse is bad? Do you think it's bad for insurers to abuse citizens of LA? See, when you add the word "abuse" to a poll, it produces pretty meaningless results.