Word: landolt
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Dates: during 1980-1989
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...recover from $3.8 billion in red ink last year. Some of the current losses are the result of a six-year rate war in which most insurers slashed premiums with competitive abandon. But a greater problem is the growing number and size of personal-injury lawsuits. Says Rudolph F. Landolt, president of Chicago's Kemper Group of Insurance Companies: "You have an accident, and everyone involved gets sued. We live in litigious times." Insurance companies blame courts for being far too generous in determining liability and juries for granting exorbitant awards. "There is no limit to it," says Albert Abend...