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January 01, 2003
Bush's Failed Texas "Tort Reform" to Go National
Bush had two signature policy iniatives as Governor of Texas. The first was his education reform, which numerous studies have shown to be a failure. The second was his "tort reform" initiative, a legislative package to limit punitive damages available to victims of corporate and insurance malfeasance. This article makes clear what a failure for consumers this tort reform was and the corporate profit windfall it created. As Bush tries to take this policy national, its failures in Texas need to be highlighted.
Birddogging the issue for many years has been the Texas Center for Economic Justice which has published numerous reports and press releases over the years exposing the consumer losses and wrongs from that Texas policy. As well, a 1997 report commissioned by the Texas Department of Insurance backed the idea that insurers were saving at the expense of plaintiffs. And insurance holders were seeing very little of this cut in costs as insurers saw their profits on premiums soar-- in auto insurance the estimates were that by the mid-90s, insurers were paying out only about 54 cents on the dollar of premiums collected, with overall estimates that insurers pocketed an extra $3 billion in profits from Bush's corporate largesse.
Posted by Nathan at January 1, 2003 10:04 AM
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Comments
I am discouraged to see that nobody has seen fit to comment on your posting. Personally, I am going to use the information you presented in writing a letter to the editor. Hopefully, you will gain much more notice via the link that appeared on cursor.org (the way I got here....and time for a ctrl+b).
Posted by: stumpy at January 7, 2003 12:54 PM
Seems important, but I will come back to the subject :)
Posted by: Nathan at January 7, 2003 01:11 PM
Thank you for taking the courage to post this article. It's sad that big business like insurance companies are taking advantage of victims here in Texas. I was invovled in a major accident with a drunk driver where I lost my right leg, and cannot believe the arrogant insurance adjuster's comments on why because of Tort reform in Texas, the case had very little value. I've paid my premiums for years and never thought that I would be in this situation for the rest of my life.
Posted by: Alexander King at January 29, 2003 09:25 AM
In Florida, Jeb Bush has tried to push tort reform as well. He also has made some very bad education policy. I hope that Texas has not also suffered the destruction of the mental health industry as Jeb has managed to do here. When will people realize what this family is really all about? $$$$
Posted by: Clay at February 18, 2003 06:15 PM
I am currently a college student and am in need of information regarding Tort Reform for a major Government paper. I could use some advice (i.e., background info., legislative info., etc.) Got any cues that you could pass my way. It would be greatly appreciated.
Posted by: Caran_Posey at February 25, 2003 05:36 PM
I am currently a college student and am in need of information regarding Tort Reform for a major Government paper. I could use some advice (i.e., background info., legislative info., etc.) Got any cues that you could pass my way. It would be greatly appreciated.
Posted by: Caran_Posey at February 25, 2003 05:37 PM
I am currently a college student and am in need of information regarding Tort Reform for a major Government paper. I could use some advice (i.e., background info., legislative info., etc.) Got any cues that you could pass my way. It would be greatly appreciated.
Posted by: Caran_Posey at February 25, 2003 05:37 PM
As a voter in Texas, Bush didn't fail me, he representedd me, right or wrong, i wanted, and am grateful for tort reform. If a company or person commits a crime, they should go to jail, not pay out millions to lawyers. it has gone too far, and insurance in texas is not profitable at all. before texas has a bigger crisis from lawyers, i think tort reform should be extended, but hey, im just the majority of texas opinion, why should the governor listen to me? if he does, he'd a "failure"
Posted by: Dusty Ray at May 5, 2003 10:00 AM
