Bad Faith
3/7/2008 1:49:17 PM EST
Oregon High Court Rules 4-To-1 Is Maximum Punitive Award Allowed Against Insurer
Modifies Court of Appeals 3-To-1 Ruling
LexisNexis Insurance Law Center Staff
The Oregon Supreme Court yesterday affirmed that a $20 million punitive damages verdict against Farmers Insurance Company of Oregon is excessive but found that the case "fully justifies the highest permisible award, viz., an award tht is four times the amount of plaintiff's actual and potential harm."
The high court modified the Oregon Court of Appeals' opinion, which found for a three to one ratio.
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