The House health care reform bill is a "trial lawyer's dream" that could have some degree of a "spillover effect" on the property and casualty industry, according to Insurance Information Institute President Robert P. Hartwig.
Indeed, he said the industry is locked in an "era of no tort reform" that began in 2006, warning that a tort crisis could be on the horizon by 2012-2014.
He also said regulatory reform in financial services could dramatically change how insurers are overseen by the federal government, even though p&c carriers came out of the financial crisis in excellent shape.
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