Came across this YouTube short:
From the video (handwritten):
Insurance companies are investment banks. They make most of their money by investing their money. It’s better for insurance companies to keep the money they have longer because they can invest it longer and they can make more money on the money they have. If they have to give up that money. They can’t make as much in their investments.
Bifurcating trials splitting into two trials
twice as long for the insurance companies. They get to hold their money for longer.
Its apparently part of a larger program of tort reform Georgia Lawsuit Abuse Reforms Will Protect Local Businesses | U.S. Chamber of Commerce :
Clearer Trial Procedures (“Bifurcated Trials”): The legislation allows trials to be split into phases: first to determine liability, and then to assess damages. This ensures a fair process where both sides can present their arguments without confusion or bias.
I don’t know/get how splitting the two helps. I do think Tort law has some issues with cost and stuff but I don’t see how that helps. Regardless, kinda crappy that, if true, insurance companies are pushing for this so they can do stuff with your money.