Political Quotes

“I was interested in what the Senator had to say about whether the Senator really does anticipate that the passage of this bill would reduce insurance costs. The Senator has given a couple of reasons why certain things are outside. But as I understand it, one of the main ideas has been that this would cut transaction costs, which I question, because it bifurcates a trial requiring additional hearings. But basically, will the Senator agree that where companies have liability insurance that there is in practically all policies no limit on transactional costs? The defense that occurs to the company as a result of liability insurance is borne by the insurance companies. Therefore, I raise the issue. One of the arguments is the cost. I have heard the Senator talk about it--defense fees, the deposition fees, and those things from the defense side which really would be borne by the insurance companies. Therefore, it would have some relationship to the overall cost of insurance, would it not?”