Insurance Lobbyist - Strategy (i.e., LIE) to Tie Lower Auto Insurance Rates to Tort Reform

Meh
If it hurst scum bags like Mike Bradner and losers like him, I’m all for it

Yall keep voting for Grigsby's LABI lap boys. lol

"LABI President and CEO Stephen Waguespack released the following statement:
HB 57 is now law thanks to the hard work of a diverse coalition of stakeholders and a dedicated, bipartisan group of legislators who understood the urgent need for common-sense legal reform. This legislation passed with overwhelming majorities in both chambers and we appreciate Gov. Edwards signing the bill into law. The enactment of the meaningful reforms in HB 57 will help bring competition back to our insurance markets and provide both our state’s working families and job creators with affordable insurance options. While this is the culmination of many years of work for LABI and the entire business community, we look forward to working with the Governor and the Legislature in future sessions to bring more reforms that will improve our poor legal climate to the table. Our work has only just begun.”

I'm a little confused - he doesn't seem to say or even imply that tort reform will do nothing to help with auto rates. When your rates are as high as they are in LA, they can drop quite a bit and still be some of the highest in the country.

He does say the bill was designed to be far reaching, but drew much of its support from the auto insurance rate impact.

This is why I laugh at people who are too loyal to their political party.. As if party really matters (other than perception).

This is who really runs the country. Lobbyist and special industry..

And two of biggest lobbyist are.... Insurance and pharmaceuticals. In other words, they are spending a lot of money (buying votes in congress) to do what is not in your best interest.. In fact, its just the opposite.

This goes on while everyone is focused on stupid bullshite.

quote:

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Whatever it takes for tort reform I am behind it. Tort reform is incredibly overdue and needed greatly.

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Insurance companies will just increase profit margins. So congratulations on providing the second set of private jets to the insurance company executives. Hooray!

Well Duh, they opposed a mandatory measly 10% reduction on the liability only portion of our auto rates. For most people that was about 50-100 bucks a years on a single vehicle.

1. Legislation was watered down
2. Rates don't just drop automatically overnight. Claims experience has to justify the drop in rates
3. Who do you think invests more in judicial races than any other special interest group? You don't see how letting a judge rub or stamp any claim under $50,000 ends up costing insurance companies, and they're insured, millions?

oh my god. I am so shocked. I really thought insurance rates were going to be lowered.

If you believed this in the first place, you are not smart, and are otherwise naive and clueless.

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