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Legislated caps on liability awards have already proven ineffective in other states.
New building is stymied by trial lawyers' opposition to caps on liability in government-backed "terror insurance".
Stricter safety controls and higher caps on liability making it harder to obtain insurance could drive smaller companies out of the market.
In the constant conservative cry for tort reform and caps on liability, the same question needs to be asked: Who pays or absorbs the balance over and above the cap?
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Separate legislation already introduced would raise a company's cap on liability to $10 billion.
It would provide cash and loans and, most significant, put a cap on liability from lawsuits.
Also on Tuesday, the company's chief executive, Tony Hayward, told Senator Bill Nelson, Democrat of Florida, that the spill would clearly cause more than $75 million in economic damage, the current cap on liability for drilling accidents.
Mike Lee, the United States Senate candidate in Utah, who said he favors repealing the progressive income tax and supports a low cap on liability for oil companies that cause extensive environmental damage.
The cap on liability for care costs, set at £72,000 for people above state pension age, is due to be introduced next year under the Care Act, following recommendations of the Dilnot commission in 2011.
The cap on liability for care costs, set at £72,000 for people above state pension age, was scheduled to be introduced next April under the Care Act, following the recommendations of the Dilnot commission in 2011.
And it would make it more likely that the companies involved would pay all claims for damage to the gulf coast, because the $75 million cap on liability, set by the Oil Pollution Act of 1990, does not apply in criminal cases.
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