What is the definition of Tort Reform?
Tort Reform refers to changes proposed to tort law in order to decrease liability costs by placing limits to damages, particularly punitive or exemplary damages. Tort reform also refers to proposed changes in liability rules, especially regarding payments for non-economic loss such as the pain and suffering caused by an accident.
Tort reform aims to do away with frivolous million-dollar lawsuits. There are also some professions, such as the medical profession, that limits the services it provides because of the high incidence of lawsuits. Tort reform is designed to prevent professionals from providing defensive medical services. To defend themselves against lawsuits, doctors and other professionals also have themselves covered with malpractice insurance, the cost of which is also passed on to their clients or patients. Tort reform components believe that putting a cap on damages paid in lawsuits will eventually mean lowered service fees.
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