The National Association of Independent Insurers (NAII) reports the Arkansas Senate has amended and passed a House bill that would reform the state’s civil justice system.
“We commend the Arkansas House and Senate for addressing this difficult topic in such a timely manner,” said James S. Taylor, southeastern regional manager of the NAII. “Passage of this bill will surely help improve the state’s business climate.”
The Senate Committee on Judiciary voted last week to pass an amended version of H.B. 1038 and sent it to the Senate floor, where it passed and was sent to the House for concurrence.
The bill, introduced in January by Rep. Danny Ferguson (D, Dist. 51) provides comprehensive and uniform civil justice reform by establishing more equitable assessment of fault, increasing the standards that must be met for punitive damage awards, and caps them at three times compensatory damages or $250,000, whichever is less.
Topics Politics
Was this article valuable?
Here are more articles you may enjoy.
Insurance Companies Join Letter to Push TPLF Disclosure in Federal Courts 
FEMA’s New Flood Maps Means More Homes Require Flood Insurance: Cotality 
The Big Data/AI ‘Revolution’ Is Driving Up Verdicts, Settlements as Plaintiffs Buy In 
Are Software Vendors Holding Insurers Hostage? Build Your Own, Webinar Says 
