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New bodily injury cap law makes Oklahoma more business friendly

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Courthouse officials in Oklahoma reported an increase of civil case files following a law that took effect November 1 that limits the amount of damages plaintiffs in bodily injury lawsuits can collect, Insurance Journal reports.

The new $350,000 cap on pain and suffering damages created more than 187 cases filed on October 28 in just the Tulsa County Court Clerk's office alone.

According to Tim Rhodes, chief deputy of the court clerk's office, Oklahoma county averages approximately 400 civil cases filed per month, and 600 were filed on October 31.

Those in support of the new cap state it will limit the financial responsibility of business insurance companies that cover doctors and businesses and it will create a more business-friendly Oklahoma, the news source says. In addition, businesses may see lower insurance rates.

Governor Mary Fallin said in a statement that business growth has hindered due to excessive legal fees.

"The new, comprehensive lawsuit reform measures passed this year will help to address those costs while still protecting the legal rights of all parties," Fallin said.
    

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