Advocate Capital Inc. is joining Cheney Galluzzi & Howard, LLC, and Coloradans for Accountability (CFA) in their campaign against insurance “caps” and “patients' right to know” on the upcoming Colorado November ballot. CFA's campaign goal is to restore jury empowerment, encourage accountability, expand medical transparency, and highlight the need for openness.
What are caps? A damage cap is a set limitation on the amount of noneconomic damages a person can receive. Examples of non-economic damages include pain and suffering, loss of employment, loss of consortium, mental anguish, and disfigurement.
Until the mid-1980s, juries were allowed to decide damages in Colorado until legislators passed new laws to “cap” damages due to insurance industry demands and the false idea that the caps would stabilize insurance premiums. Since then, premiums have continued to increase, and the restrictive caps substantially limit financial relief for victims and their families.
Kevin Cheney of Cheney Galluzzi & Howard, LLC states, "Colorado currently has some of the harshest caps on damages in the nation. These caps take power from juries, give it to politicians, and exist solely to protect the record profits of the insurance industry and corporate America."
What are the cap figures? As of February 12, 2024, the State of Colorado in accordance with C.R.S. 12-47-801 (5)(c) (formally 12-47-128.5), C.R.S 13-21-102.5 (3)(c)(III), and C.R.S. 12-21-203.7(3) adjusted limitations, utilizing the “consumer price index for Denver-Boulder, all items and all urban consumers” for all claims for relief that accrue on and after January 1, 2024 and before January 1, 2026.
With the 2024 adjustments, if you or your family member dies because of medical negligence, the cap on the relief is a mere $300,000. If you are catastrophically injured by a car accident, the damages could only amount to $729,790. If you die after being severely injured, your life is only valued at $679,990. CFA is dedicated to restoring jury empowerment, allowing them to make informed decisions on non-economic damages without pre-set limitations. Removing the damage caps will increase incentives for safer practices, reducing incidents of injury and death.
This campaign expands further, highlighting the transparency in healthcare; “a patient’s right to know.” If an accident is investigated internally within the hospital by peer review, patients often never see the findings. The patient's right-to-know initiative seeks to ensure that all aspects of patient cases are disclosed in medical records. The openness of these reviews would ensure that patients receive access to comprehensive details about their medical care, especially in unfortunate events.
Advocate Capital Inc. is proud to support this campaign and stand behind Cheney Galluzzi & Howard, LLC, and Coloradans for Accountability’s commitment to ensuring every citizen’s access to equitable justice and their 7th Amendment right.
