The Liability Insurance Crisis (CRS Report for Congress)
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| Release Date |
June 1, 1987 |
| Report Number |
IB87015 |
| Authors |
Henry Cohen, American Law Division; David Whiteman, Economics Division |
| Source Agency |
Congressional Research Service |
Summary:
A wide range of businesses, professionals, and municipalities have urged Congress to take action to alleviate the crisis in the affordability and availability of liability insurance. Without affordable liability insurance, they clain, the threat of lawsuits may make it impossible for them to deliver their products and services. The insurance industry contends that a litigation explosion -- an increase in the number of tort suits brought and in the size of damage awards -- is the primary cause of the liability insurance crisis. Trial lawyers and consumer groups, in contrast, dispute the existence of a litigation explosion and place the blame for the insurance crisis on economic problems caused by the insurers themselves.
