Don Nickles: “I am happy to join as a cosponsor to S. 625, the Auto Choice Reform Act of 1997. This bill enjoys wide bipartisan…”

“I am happy to join as a cosponsor to S. 625, the Auto Choice Reform Act of 1997. This bill enjoys wide bipartisan support for the choice that it offers every American when choosing car insurance. Under this bill, families and individuals will be able to exchange the right to bring certain lawsuits for a substantial savings on their automobile insurance. This bill will allow consumers the right to purchase a low-cost policy that will cover medical bills and lost wages but not pain and suffering damage claims. Those policies will also give the purchasers immunity from pain and suffering claims against them. The current State liability systems will remain intact as a choice for individuals who would prefer the freedom to sue and be sued for pain and suffering damages. American taxpayers stand to save a total of $45 billion nationwide. This savings would go directly in the pocket of every insured person at no cost to the taxpayers. The Joint Economic Committee has projected that the auto choice option will save Oklahomans $420 million in automobile insurance premiums and will put $186 back into the accounts of every person with a car. This is the equivalent of an instant tax cut for every insured person. The New York Times stated that with this bill: "Everyone would win-- except the lawyers" that live off of the current liability system. In fact, trial lawyers take in an estimated $17 billion a year from auto accident cases.”