Financial Services Industry
Industry: Email Alert RSS FeedPunitive damages legislation sought.(recent Supreme Court decision did not establish specific rules about damages awards)
National Underwriter Property & Casualty-Risk & Benefits Management, May, 1996 by Brostoff, Steven
WASHINGTON--Federal legislation setting clear standards for punitive damage awards is still necessary despite the unprecedented U.S. Supreme Court decision overturning an Alabama award as unconstitutional, industry and tort reform advocates say. The high court last week overturned as violating the due process clause of the 14th Amendment a $2 million punitive damage award levied against the automobile manufacturer BMW in Alabama for failing to disclose that a car it sold had been repainted.
However, in doing so, the court declined to establish a so-called "bright line" test to determine when a punitive damage award is unconstitutionally excessive. Rather, the court identified three "guideposts" it used in determining that the award was excessive. These...
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