Winston,
Perhaps a more useful way to approach this is the issue of tort reform itself. It seems that where it has occurred the results have been less than expected or indeed the reverse. Perhaps the underlining premise is faulty.
We need that avenue of redress against those entities or individuals that we allege have wronged us in some manner to remain fully intact IMO - with one modification I'll mention later.
Who are the folks yelling for tort reform if it isn't the very folks who perpetrated all manner of harm upon an unsuspecting public. Tobacco, Tires that explode, asbestos to poison us, chemicals that make babies have deformities and etc. and etc. The punitive aspect is just that IMO. Designed to punish the wrong doer.
The attorney who takes such cases does so based on the expectation of winning but, he may not nor may he always earn a reasonable fee for the time put in or earn nothing at all. Contingency bases fees are an incentive for him to work his butt off and it works. Many folks harmed could not pay an attorney to represent their interests in any other manner and these folks would be forced to settled for pennies, if anything.
Maybe a schedule of Award parameters might be in order with a multi digit multiplier for punitive if appropriate.
Asbestos Manufacturers ought to go out of business. They have provided poison for folks to breath and knew it to be poison all the while they made a profit. Surely they shouldn't be in business producing this substance. So what is the difference? I see none.
I'm a bit bitter over the DDT (agent orange) that was dropped on us, handled by us and consumed by us in the late 60's and early 70's. I've seen folks drink or eat food after we were doused by a wayward delivery. These manufacturers and our government fought tooth and nail to avoid any blame for what they knew was harmful to humans. Perhaps this makes me overly biased on the issue but, I do vote!