Rhode Island’s state Senate Judiciary Committee approved proposed legislation that would limit vicarious liability lawsuits in the state. The legislation would make a long-term vehicle lessee the “owner” of the vehicle for the purposes of liability so long as the lessee carries a minimum insurance coverage of $100,000 per person, $300,000 per incident, and $50,000 per property damage. If those minimums are not met, than the lessor’s liability would be limited to the same amounts ($100,000/$300,000,$50,000. Short-term lessors (less than 12 months) would have their liability capped at $250,000 per person, $500,000 per incident, and $25,000 for property damage. The full Senate is expected to vote on the proposed legislation some time in May 2003.

Originally posted on Fleet Financials

0 Comments