Arkansas Supreme Court strikes "Tort Reform" constitutional amendment from ballot

[TexasTowelie]

3. Good news.

While I understand the need to have a cap on non-economic damages due to excessive jury awards, the caps that are being proposed are so low that it will discourage plaintiff attorneys from taking on new clients because they are on a contingency basis.

The myth of tort reform is that by capping damages it will result in a drastic savings in insurance premiums. The truth is that even insurance companies know that if fiction. One of the major medical professional liability insurers estimated that tort reform proposals will only reduce premiums by 3% - 4% at most.

Full disclosure: I was the tort reform statistician for the Department of Insurance for over a decade.