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The April 10 Business section reported that the CEO of Traveler’s Group was paid $230.7 million in 1997.
Soon insurance industry lobbyists will again descend on Springfield looking for legislation to limit the rights of catastrophically injured plaintiffs. They will decry a “lawsuit crisis” but will not offer a fair accounting of what they collected in premiums compared to what they paid in claims. Instead, they will offer anecdotal stories like the “McDonald’s hot coffee case.”
Let’s remember the insurance executive’s income when we are asked to supplement it by reducing the rights of people bringing claims against their insured.
