Product Liability Fairness Act

Product Liability Fairness Act - Title I - Declares that this Act governs any product liability action brought against a manufacturer or product seller, on any theory, for harm caused by a product. States that a civil action brought against a manufacturer or product seller for loss or damage to a product itself or commercial loss shall be governed by applicable commercial or contract law.

Supersedes any inconsistent State law regarding recovery in such actions.

Lists specific laws not superseded, including: (1) defense of sovereign immunity asserted by any State or by the United States; (2) any Federal law (except the Federal Employees Compensation Act and the Longshore and Harbor Workers' Compensation Act); (3) the Foreign Sovereign Immunities Act of 1976; (4) State choice-of-law rules; (5) the right of any court to transfer venue or to apply the law of a foreign nation or to dismiss a claim of a foreign nation or citizen on the ground of inconvenient forum; and (6) any statutory or common law cause of action, including an action to abate a nuisance, that authorizes a State or person to institute an action for civil damages or civil penalties, cleanup costs, injunctions, restitution, cost recovery, punitive damages, or any other form of relief from contamination or pollution of the environment or the threat of it.

Declares that U.S. district courts shall not have jurisdiction over any civil action under this Act, based on specified provisions of Federal law relating to district court jurisdiction.

Declares that, if any provision of this Act would shorten the period during which a manufacturer or seller would otherwise be exposed to liability, the claimant may, notwithstanding that period, bring any civil action under this Act within one year after the effective date of this Act.

Title II - Allows any claimant to bring a civil action for damages against a person for harm caused by a product under applicable State law, except to the extent such law is superseded by this title.

Sets forth expedited settlement measures, including: (1) an option to include an offer of settlement, for a specific dollar amount, by the plaintiff in the complaint and by the defendant in a responsive pleading; and (2) awarding attorney's fees and costs, in certain circumstances, to the prevailing party if the other party does not accept the settlement offer.

Sets forth alternative dispute resolution procedures, including: (1) an option, in lieu of or in addition to a settlement offer, for a claimant or a defendant to offer to proceed under any voluntary alternative dispute resolution procedure established or recognized under the law of the State in which the action is brought or maintained; and (2) awarding of attorney's fees and costs to the offering party if the court determines that a refusal to so proceed was unreasonable or not in good faith. Creates a rebuttable presumption that a refusal to so proceed was unreasonable, or not in good faith, if a verdict is rendered in favor of the offeror.

Title III - Allows a person seeking to recover for harm caused by a product to bring a civil action against the manufacturer or seller under applicable State or Federal law, except to the extent such law is superseded by this Act.

Establishes a standard of product seller liability for proximate causes of harm, established by a preponderance of the evidence, which fall under the categories of negligence or express warranty.

Sets forth: (1) limitations on the award of punitive damages; and (2) statutes of limitation.

Requires reduction in the damages awarded by the sum of all State or Federal workers' compensation benefits to which the employee is or would be entitled.

Prohibits a third party tortfeasor, where workers' compensation is involved, from maintaining any action for implied indemnity or contribution against the employer, any coemployee, or the exclusive representative of the injured person, with exceptions.

Declares that, in any product liability action, the liability of each defendant for noneconomic damages shall be several and not joint. Requires the trier of fact to determine the proportion of responsibility of each party for the claimant's harm.

Establishes a complete defense, in any civil action under this Act in which all defendants are manufacturers or sellers, that the claimant was under the influence of alcohol or any drug and that, as a result, the claimant was more than 50 percent responsible for the event which resulted in the harm.