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Article: LIABILITY REVAMP SEEN // Reagan to address insurance `crisis'
- Article from:
- Chicago Sun-Times
- Article date:
- March 31, 1986
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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SANTA BARBARA, Calif. President Reagan will announce this week
that he plans to offer legislation to limit legal fees and damage
awards for "pain and suffering" in liability cases that have caused a
"crisis" for insurance companies, White House officials said.
Those measures and other proposed changes endorsed by Reagan are
needed to end what a presidential task force called a crisis in
liability insurance evidenced by escalating premiums, insurance
shortages and skyrock-eting damage awards.
The task force, headed by Assistant Attorney General Richard K.
Willard, said in a March 17 report to Reagan that a "veritable
explosion" in the definition of "liability" has led to the problem,
as ...