• Jim OBERSTAR. ( Minnesota Democratic–Farmer–Labor Party) - Also, as a follow -on to a point Mr. Traficant raised, the National Insurance Consumer Organization will testify tomorrow.
  • Mr. Hunter and Mr. Nader have expressed widely divergent views on the profitability or lack thereof of the industry.
  • The Insurance Information Institute says the industry lost $5 billion in 1985 and Mr. Hunter and Mr. Nader say that the industry earned $6 billion in 1985.
  • That is the confusing dilemma you are confronted with, when some people are saying there should be a 29 percent increase and their critics are saying there should be an 11 percent decrease in premiums.
  • How can both be right?
  • Are they looking at different numbers?
• Mr. Muhl. (Maryland Insurance Commissioner) - I think what is happening, particularly with reference to the insurance industry and Mr. Hunter.
  • They are both looking at the same or similar numbers but drawing conclusions after going only so far and not taking a few more steps.
  • I think what the industry is showing on one hand is they have sustained losses and they are absolutely right.
  • Mr. Hunter is show ing you, on the other hand, that they have had significant income, and he is right.
  • What you have to do then is take it to the next step....

1986 0121 0122 - GOV (House) - The Liability Insurance Crisis - [PDF-553p-GoogIePIay