ABC Evening News for Monday, Mar 03, 1986
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(Studio: Peter Jennings) Crisis in liability insurance said illustrated by Roosevelt Island tramway in NYC; details explained, outlined on screen.
(Newport Beach, California: Jay Schadler) Implications for local, state, and federal govts. as well as private indivs. of crisis in liability insurance industry examined; John Taylor's successful suit against California town cited as example Details given. [Newport Beach Mayor Paul MAUER - questions Taylor's victory; notes financial impact on city of rising insurance rates.] [Skating rink owner James GOODALE - cites need for insurance in order to remain open.] [MD ins. commissioner Edward MUHL, American Alliance Ins. spokesperson Frank NUTTER - defense rates.] Lloyd's of London, insurer of United States insurance companies, recalled insuring Betty Grable's legs and Titanic. [Underwriter Robin JACKSON - criticizes state of US insurance litigation.] [American Trial Lawyers Association spokesperson Pete PERLMAN - blames ins. industry] [National Ins. Consumers Org. spokesperson Robert HUNTER - accuses industry of conspiracy to use liability issue as means to its own economy recovery; notes org. has asked Justice Department to investigate.] [AETNA vice president Richard EARLY - anticipates situation worsening.] [HUNTER - notes insurance industry's rising profit as result of alleged crisis.] [OR insurance commissioner Jo DRISCOLL - defs. ins. companies] Status of liability reform indicated on map.
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