Limits the award of punitive damages to the greater of $200,000 or two times the award of economic damages plus non‑economic damages up to $750,000. Requires a plaintiff to show by “clear and convincing” evidence that a defendant acted with malice, defined as the “conscious indifference to the rights, safety, or welfare of others.” Requires the determination of awards for punitive damages to be made in a separate proceeding at the request of the defendant.