The Property Casualty Insurers Association of America (PCI) is applauding Gov. Bob Taft and the Ohio General Assembly for passing SB 80, the comprehensive lawsuit reform bill, and HB 498, the workers’ compensation intentional tort bill.
“The current civil justice system costs American consumers and businesses more than $200 billion a year. The growth of the lawsuit industry has exploded in recent years, with a new lawsuit being filed every two seconds and class action lawsuits having grown over 1,000 percent in the past decade. As one of the largest private purchasers of legal services, the property/casualty industry is uniquely impacted by the nation’s legal system,” said Greg LaCost, regional manager and senior counsel for PCI.
“PCI commends the Ohio General Assembly and Governor Taft for attempting to get a handle of the states out of control legal system. SB 80 enacts civil justice reforms in Ohio that protect injured parties, consumers and brings fairness to the business community,” said LaCost.
SB 80, places caps on noneconomic damages and punitive damages of $350,000, brings clarity to product liability cases, and establishes standards that damages are awarded fairly and appropriately during trial.
“Ohio lawmakers took another positive step forward by passing legislation that will improve the states workers’ compensation system. HB 498 clarifies intentional tort in Ohio’s workers compensation system and eliminates double recovery for the same workplace incident,” added LaCost.
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