US auto-leasers liability bites

The extent to which auto-lease companies in New York, Connecticut and Rhode Island are held liable for accidents caused by drivers is reported to have led to a flight of insurers and a number of leasing companies going out of business. Now, along with a bill to transfer liability to the long-lease driver, the big guns of Ford and of General Motors are threatening to withdraw from the market. (See LRI November 2002, US$28mn award against lease company.)