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Business groups urge committee to oppose HB 447, warning indexing and higher caps will raise costs
Summary
Opponents including the Ohio Chamber, Ohio Business Roundtable and Ohio Alliance for Civil Justice told the Judiciary Committee that House Bill 447's proposal to raise the non‑economic damages cap to $580,000 and index it to CPI would undermine predictability, raise insurance and business costs, and risk 'nuclear verdicts.'
House Bill 447 drew extensive opponent testimony from business groups and insurance‑market advocates. Steve Stivers, CEO of the Ohio Chamber of Commerce, warned that immediately raising non‑economic damage caps and indexing them to inflation would "inevitably increase the cost of doing business in Ohio," threaten…
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