Litigation associated with employment practices, medical malpractice and professional services errors and omissions associated with the financial crisis are expected to drive U.S. tort costs up 3% in 2009, up an additional 4% in 2010 and up an added 6% in 2011, according to a recent study completed by Stamford, CT-based Towers Perrin. Since 1950, annual growth in tort costs has exceeded gross domestic product (GDP) growth by an average of 2%, the 2009 Update on U.S. Tort Cost Trends reveals. In 2008, the U.S. tort system cost $254.7 billion or $838 per person, up from $252 billion, or $836 per person in 2007.
Tuesday, December 29, 2009
FINANCIAL CRISIS EXPECTED TO HELP DRIVE TORT COSTS UP 3% IN 2009
Litigation associated with employment practices, medical malpractice and professional services errors and omissions associated with the financial crisis are expected to drive U.S. tort costs up 3% in 2009, up an additional 4% in 2010 and up an added 6% in 2011, according to a recent study completed by Stamford, CT-based Towers Perrin. Since 1950, annual growth in tort costs has exceeded gross domestic product (GDP) growth by an average of 2%, the 2009 Update on U.S. Tort Cost Trends reveals. In 2008, the U.S. tort system cost $254.7 billion or $838 per person, up from $252 billion, or $836 per person in 2007.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment