Nevadans for Fair Recovery released a fact sheet in May about a ballot initiative that seeks to cap attorney contingency fees at 20%. According to the fact sheet, 71% of Nevadans support the initiative.
The ballot initiative aims to put more money in victims’ pockets by capping the amount of settlements and damages attorneys can claim through contingency fees. The fact sheet cites a Public Opinion Strategies poll conducted among Nevada voters in February, which found that 23% of respondents oppose the initiative, 8% are undecided, and 71% support the fee cap. This makes it one of the truly bipartisan efforts this year.
According to the fact sheet, few existing restrictions on attorneys’ fees in Nevada mean that attorneys frequently take nearly half of settlements and awards intended to compensate their clients. These large attorney fees leave victims with less money to cover medical bills and other expenses. The fee cap would not limit the size of settlements or awards and would allow attorneys to continue receiving reimbursement for their legal expenses.
Nevadans are paying an average of $3,004 for full coverage car insurance annually, compared to the national average of $2,299, according to Bankrate.
The political action committee (PAC) Nevadans for Fair Recovery filed the ballot initiative in March, reported the Las Vegas Review-Journal. Industry groups including the Retail Association of Nevada and the Nevada Trucking Association support the measure.
