I found it interesting that Obama admitted on “60 Minutes” that the Democratic Party had been traditionally resistant to tort reform, but was somewhat mum when Steve Kroft asked if that was due to the large contributions from the Trial Lawyers Association. As a conservative, I would definitely concur that, as a matter of policy, caps on punitive and exemplary damages would be a boon, but I also recognize that the GOP is just as dirty as the Dems when it comes to contributions from the big class actions shops (like Motley).
I work in blast engineering for the government and they recently put a piece of legislation into place called the Safety Act. This Act allows the government to extend full liability protection to firms working on Force Protection and anti-terrorism. The reason for the Act? Too many firms averred from doing anti-terrorism and Force Protection work out of fear of litigation.
Regardless of industry, litigation and the attendant premiums for E&O, Professional Liability and General Liability, are all now a “cost of doing business”.
