Financial Services Industry
Industry: Email Alert RSS FeedTort reform puts senate on hot seat.(Editorial)
National Underwriter Property & Casualty-Risk & Benefits Management, April, 1995
It will be a shame if the U.S. Senate caves in to trial lawyers by watering down long overdue legislation that would impose some reasonable restraints and predictability on outrageous jury verdicts. Sadly, that is what the Senate seems poised to do. While the House of Representatives approved a broad civil justice reform plan that would cap punitive damages for all torts, Senate action, if it occurs at all, will likely be limited to product liability cases.
Failure of the Senate to address the full range of abuses in our civil justice system would truly represent a betrayal of the many service providers, including insurance companies and agents, who are suffering under the burden of unfair punitive damage awards no less than product manufacturers. Indeed,...
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