Former U.S. Sen. Fred Thompson says legislation that seeks to limit monetary damages from lawsuits in Tennessee is unnecessary and that a jury should decide how much is awarded and not state government.
The proposal by Republican Gov. Bill Haslam would place a $750,000 cap on non-economic damages, such as pain and emotional suffering, and punitive damages would be limited to $500,000.
Thompson, a Tennessee Republican, told the House Judiciary Subcommittee that the proposal is “extremely far-reaching.”
Haslam has said the legislation is necessary because it is too attractive for lawyers to sue businesses in Tennessee and that could scare off potential businesses.
However, Thompson cited statistics that show the state continues to be a top draw for businesses.
Topics USA
Was this article valuable?
Here are more articles you may enjoy.
AM Best Calls $1.54 Billion Mapfre-Safety Marriage ‘Strategically Compelling’ 
American Family to Acquire Bowhead Specialty in $1.2B Cash Deal 
After 55 Years in Florida Insurance, Tom Lynch Reflects on Agencies, Changes Needed 
Cost of a Data Breach Reaches Record $5 Million on Average 
