On the topic of tort reform, I'd suggest the documentary Hot Coffee. It obviously has a bias but it really made an impact on how I view these large settlements.
These huge sums are required to set an example and not just be a fine. If he only won $500,000, then then next time a similar situation arises it just becomes a math question. Can they can earn more than $500,000 by releasing and paying the "fine".
A new car built by my company leaves somewhere traveling at 60 mph. The rear differential locks up. The car crashes and burns with everyone trapped inside. Now, should we initiate a recall? Take the number of vehicles in the field, A, multiply by the probable rate of failure, B, multiply by the average out-of-court settlement, C. A times B times C equals X. If X is less than the cost of a recall, we don't do one.
Punitive Damages are intended to prevent X from becoming too small.
These huge sums are required to set an example and not just be a fine. If he only won $500,000, then then next time a similar situation arises it just becomes a math question. Can they can earn more than $500,000 by releasing and paying the "fine".
https://en.wikipedia.org/wiki/Hot_Coffee_(film)