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Atlanta (AP) – The stadium from the governor of Georgia Brian Kembe Simple: Setting Borders on lawsuits The high insurance costs will stop.
Reality, though, is more complicated.
Changes can reduce liability insurance costs for companies and commercial real estate owners. Evidence is mixed about whether it will lead to significant discounts in the car for the car and other types of insurance. Some researchers say that the efforts that limit the lawsuits, which are often called “damage reforms” are more insurance companies’ profits than the policy price reduces.
“The net effect is that it improves the profitability of the insurance company,” said Tyler Liverti, a business professor who studies risks and insurance at Wisconsin University.
When Kembe reveals his proposals on Thursday, the Republican Governor is likely to continue in his argument that insurance rates for all are increasing because unfair lawsuits are high and giving jury bodies excessive damage.
The issue is Kemp’s maximum priority This year after the promise of the Chamber of Commerce in Georgia Take action Instead, he pushed a law to make the Georgia Insurance Commissioner John King collecting data in 2024.
King said that the lawsuits are pushing insurance companies to reduce the coverage of retail companies, owners of apartments, drivers and others. He said that business owners in the areas that insurance companies are called as a high crime are among those who struggle more than others. Companies that offer low -income housing have complained.
“Descending to the southeast of Atlanta and spoke to the small young people who have to close because they cannot find insurance,” King said.
Do unfair lawsuits and major jury prizes give real problems?
Some say that there is no evidence that the country’s vowel crisis leads high insurance rates.
“I looked for data, and I did not find it,” said Kenneth Klein, a law professor at the Western Law College of California. “This does not mean that it does not happen. This means that we cannot document it.”
But Mike Everson from Ocberbridge and former president of the Independent Insurance Agents Association said that insurance companies are like the ability to predict when determining prices and how to spread losses.
In a known case, the jury granted a man approximately $ 43 million after shooting at CVS parking in Atlanta, on the pretext that the company should have enhanced security. In another case, Gonnsburo Mobile Home was ordered to pay $ 31 million to a daughter of a man who was shot and killed there.
The opponents note that a few judgments are that large insurance companies and companies are still profitable. They want legislators to ask for more transparency on how to put prices.
