Product Liability Risk Retention Act of 1979: Hearing Before the Committee on Commerce, Science, and Transportation, United States State, Ninety-Sixth ... April 22 and July 30, 1980 (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from Product Liability Risk Retention Act of 1979: Hearing Before the Committee on Commerce, Science, and Transportation, United States State, Ninety-Sixth Congress, Second Session on S. 1789 and H. R. 6152, April 22 and July 30, 1980

The chairman. The hearing will come to order. Today we are holding hearings on S. 1789, the Risk Retention Act, one of the administration's proposals for addressing the product liability prob lems faced by businesses, particularly small businesses. The Risk Retention Act is intended to provide businesses with an alternative means of obtaining product liability insurance coverage. It does this by permitting product sellers to form self-insured co-ops called risk retention groups, which may cover all or part of their member product liability risk.

We are pleased to have a number of witnesses this morning representing a broad cross section of business: consumer, legal, and insurance industry views.

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