Time Is Running Out On Passage Of Y2K Liability Bill.

National Underwriter Property & Casualty-Risk & Benefits Management, June, 1999

The U.S. Senate took a difficult but necessary vote in the public interest recently by passing a modest bill that would help reduce the flood of litigation expected to arise from the Y2K computer bug. The Senate legislation does not go as far as many would like, particularly in the area of punitive damages.

Specifically, the Senate legislation caps punitive damages only for certain small businesses that have fewer than 50 employees. This contrasts sharply with the legislation passed by the House of Representatives that would cap punitive damages for all defendants, with some limited exceptions. Nonetheless, the Senate's action maintains the momentum towards meaningful Y2K legislation that, if enacted, will help assure that the still I booming American economy...

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