Tort costs in the United States reached a record $246 billion in 2003, approximately $845 per person, according to U.S. Tort Costs: 2004 Update, a recent report from Tillinghast Towers Perrin.
This figure represents a 5.4 percent increase in tort costs from 2002, a much slower growth rate than the prior two years. In 2002, tort costs rose 13.4 percent increase, while 2001 saw a 14.7 percent increase.
"The moderation in tort cost growth during 2003 merits closer consideration," said Russ Sutter, a Tillinghast principal. "Essentially, the double-digit increases in 2001 and 2002 raised costs to such a high level that growth rates were bound to level off, at least for a short period of time, but there is plenty of uncertainty lurking beneath the surface, so we can't really say that this more modest growth trend in tort costs will definitely continue."
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