Fred Karlinsky was recently quoted in a Law360 Insurance Authority article discussing the impact of tort reform on insurance markets and the potential implications of Georgia’s recent legislative changes.
As noted in the article, Florida’s experience demonstrates how greater predictability in the legal environment can help attract capital, improve market stability and ultimately benefit policyholders. Meaningful tort reform helps reduce uncertainty, allowing insurers and reinsurers to more accurately assess risk, price products and expand capacity.
While it remains to be seen how Georgia’s reforms will affect the market over the long term, the broader principle remains the same: insurance markets function best when there is consistency and predictability. Those factors are critical to encouraging investment, strengthening competition and supporting affordable and available coverage for consumers and businesses alike.
LINKS
Read “Ga. Tort Overhaul Brings Hope For Stabilized P&C Insurance.” (subscription)