Financial Services Industry
Industry: Email Alert RSS FeedPunitive damage ruling lifts hopes. (hope for setting punitive damage awards limits)
National Underwriter Life & Health-Financial Services Edition, May, 1996 by Brostoff, Steven
The Supreme Court overturned a $2 million punitive damage award against BMW and established guidelines to determining excessive awards. BMW was accused of repainting a paint-damaged car that it then sold without disclosing that it had been repainted. The new guidelines take into account the disparity between the harm done and the award, the severity of the non-disclosure and comparisons between similar civil penalties and the award.
WASHINGTON--Despite the unprecedented Supreme Court decision last week that overturned an Alabama award as unconstitutional, industry sources say federal legislation setting clear standards for punitive damage awards is still necessary.
The high court last week overturned as violating the due process clause of the 14th amendment a $2...
Brought to you by CBS MoneyWatch.com
- Best- and Worst-Paid College Degrees
- 6 Things You Should Never Do on Twitter or Facebook
- How Much Sleep Do You Really Need?
- 6 Big Myths about Gas Mileage
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
