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…