"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.
"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"
"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"
"When I came to Congress, like our first panel, small business people, 64 percent of the people had health insurance. We'd buy it. Now, we're down to about 34 percent. That's why we have to do something on health care in this country because the cost is killing us"
"Insurance - an ingenious modern game of chance in which the player is permitted to enjoy the comfortable conviction that he is beating the man who keeps the table"