Financial Services Industry
Industry: Email Alert RSS FeedTort reform opponents prepare for 'Armageddon.'(Senate bill debate)
National Underwriter Life & Health-Financial Services Edition, March, 1995 by Brostoff, Steven
Tort reform legislation in the Senate will be opposed by consumer groups and trial lawyers. A reform bill was passed by the House that included caps on punitive damages, raised the standard of proof for punitive damages, and eliminated joint and several liability for non-economic damages. The Senate will probably debate two bills. One bill will deal strictly with product liability, while the other may include limits on punitive damages and joint and several liability for all torts.
WASHINGTON--While a broad tort reform bill was recently approved by the House of Representatives, opponents are planning an all-out battle in the Senate, and they expect to win, according to the president of the American Tort Reform Association.
"It will be Armageddon," Sherman Joyce said...
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