Financial Services Industry
Industry: Email Alert RSS FeedSweeping Republican victory seen facilitating class-action reform effort: defeat of Senate minority leader removes one major roadblock for the industry.(Bush Prevails)
National Underwriter Property & Casualty-Risk & Benefits Management, November, 2004 by Postal, Arthur D.
THE REELECTION OF PRESIDENT George W. Bush, coupled with the Republicans gaining seats in the U.S. Senate is being viewed by the property-casualty insurance industry as paving the way for class-action reform sooner rather than later in the next Congress. Insurance officials also noted that a number of judges who are viewed as sympathetic to the industry's position on product liability litigation were elected to state supreme courts.
In addition, several state ballot initiatives supported by the industry were passed that might cut the cost of product liability litigation. "Yesterday's election represented a great victory for proponents of legal reform," said Julie Rochman, senior vice president of public affairs at the American Insurance Association in...
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