WASHINGTON, D.C. (PRWEB) February 28, 2017
The American Insurance Association (AIA) is urging Oregon policymakers to vote “no” on SB 487, legislation that significantly changes Oregon’s present statutory limit on the recovery of noneconomic damages. SB 487 will be heard in the Oregon Senate Judiciary Committee today. If passed, the legislation would increase the limits on the speculative pain and suffering damages in wrongful death lawsuits to $1 million dollars with a price index change every year thereafter. Additionally, it removes caps on noneconomic damages and other civil actions. Existing law already compensates individuals for all the actual costs associated with any harm.
A statement from Katie Pettibone, AIA vice president for state affairs, Western region follows:
“SB 487 and its House companion HB 2129 represent another attempt by the plaintiff’s bar to undo case law authority upholding the Oregon statutory limit on noneconomic damages as enacted by the Legislature. The limit on noneconomic damages was put into place by the Legislature to encourage predictability and stability in the liability system. At the same time it allows plaintiffs to be compensated for subjective noneconomic damages such as pain and suffering in addition to their recovery of actual damages, such as medical costs, lost wages.
That system is in line with other states in the Western region. The disruption of this balance with passage of SB 487 would unfavorably impact costs, present unfair challenges in the context of litigation with its retroactive application, and unnecessarily challenge Oregon’s healthcare system. Existing law ensures that individual’s actual damages are paid, but changing the caps jeopardizes Oregon’s liability system, creates instability and runs counter to what a majority of western states are doing to ensure a fair and stable liability system.”