Financial Services Industry
Industry: Email Alert RSS FeedSenate hearing examines Class Action reform. (Capitol Beat).
Claims, September, 2002
The Senate Judiciary Committee recently held a hearing to focus on S 1712, the bipartisan Class Action Fairness Act, which would allow for multi-state class action lawsuits to be held in federal court rather than in state courts.
Insurance trade associations are in favor of the legislation, which, they feel, would eliminate forum shopping. "The federal courts are where these suits belong, and that's why the founding fathers established a system of minimal diversity in the federal court system for cases like these that cross state boundaries, said Melissa Shelk, vice president. federal affairs, for the American Insurance Association.
"Like its House counterpart (HR 2341), which passed in March, this legislation would eliminate some of most egregious...
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