U.S. Senate Passes Y2K Liability Bill
Monday, June 21st, 1999 Legislation & Regulation Liability TechnologyInsurance groups are praising the U.S. Senate for passing a modified Year 2000 liability bill aimed at reducing the expected flood of litigation associated with the Y2K computer bug. By a 62-37 vote, the Senate approved a version of the legislation, S. 96, which was scaled back from the original bill introduced by Sen. John McCain, R-Ariz. In particular, the Senate significantly cut back on a provision limiting punitive damages in Y2K cases. Still, insurance groups said the legislation would help reduce frivolous lawsuits. "This vote is another strong step toward ensuring continued economic growth in the next millennium by allowing American businesses to focus resources on fixing Y2K problems rather than defending against frivolous lawsuits," said Melissa Shelk, assistant vice president with the Washington-based American Insurance Association.
