"Actually lowering the cost of insurance would be accomplished by such things as making it harder for lawyers to win frivolous lawsuits against insurance companies"
- Thomas Sowell
About this Quote
This quote by Thomas Sowell recommends that minimizing the cost of insurance coverage could be accomplished by restricting the capability of attorneys to win pointless lawsuits against insurance provider. This implies that the existing expense of insurance coverage is being driven up by lawyers taking advantage of the system and winning settlements that are not warranted. By making it harder for attorneys to win these kinds of claims, the cost of insurance coverage could be reduced. This might be done by presenting stricter policies on the types of cases that can be brought against insurance provider, or by increasing the concern of evidence required to win a case. Eventually, this might cause lower insurance expenses for customers.
This quote is written / told by Thomas Sowell somewhere between July 30, 1930 and today. He/she was a famous Economist from USA.
The author also have 47 other quotes.
"In the 5 years, well over 60,000 American families have been broken apart by the absence of insurance because the only way for parents to get treatment for their children is to turn the custody of those children over to the State"
"Now is not the time to give greater protections to pharmaceutical companies that put unsafe drugs like Vioxx on the market. Such protections have nothing to do with the liability insurance crisis facing doctors and should be stripped from this bill"
"Skyrocketing insurance premiums are debilitating our Nation's health care delivery system and liability insurers are either leaving the market or raising rates to excessive levels"
"The majority of Americans receive health insurance coverage through their employers, but with rising health care costs, many small businesses can no longer afford to provide coverage for their employees"
"Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country"
"Who's paying the million bucks? The insurance company. We've been trying for years to get the insurance industry to say to the gun industry, We won't insure you unless you have policies that will reduce the likelihood of guns falling into the wrong hands easily"
