1. “Does Tort Reform Cut Insurance Premiums?” Grace and Leverty Comments from Joan Schmit

2. Purpose and Process Is uncertainty about constitutionality a factor in limiting effectiveness of tort reform? Hazard rate model for expected duration of tort reform effect Estimated duration as explanatory variable for effect of tort reform

3. Positives Creative Gets closer to reality Helps us understand the process better Always meticulous work

4. Suggestions What is the purpose of tort reform? Make the system less volatile? Assure greater access to health care? Maybe cost is not the key idea

5. What then might we study? Volatility Own work on reserves Underwriting cycle Harrington and Danzon (2006) Exit/Entry of med mal insurers Access to health care

6. Other ideas Focus on caps on damages Additional variables Urbanization Patient’s compensation fund Specialized local insurer (perhaps run by health care providers) Medical society involvement