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I wonder if potential changes to minimum required liability amounts will lead to higher insurance premiums vs lower? When it's a person's actions responsible f
by drewmol 9y ago
I wonder if potential changes to minimum required liability amounts will lead to higher insurance premiums vs lower? When it's a person's actions responsible for the accident it seems easier to cap these at a lower standard amount vs. a corporation's IP's actions/fault with x-billion in assets...
- sowbug 9y agoCompensatory damage amounts are generally independent of the defendant's means. This is as expected. Your hospital bills and pain/suffering aren't any different if the person whose car ran you over is rich or poor. Punitive damages are another story, but in theory they're not available in cases of ordinary negligence.