Study: Tort Costs Still Edging Up, Albeit More Slowly
NU Online News Service, Jan. 17, 3:22 p.m. EST?The annual growth in U.S. tort costs saw a "dramatic reduction" in 2003?thanks in part to a slowing trend in commercial lines and asbestos costs?but tort expenses could still approach $1,000 per U.S. citizen by 2006, according to a new study.[@@]
The report from Stamford, Conn.-based Towers Perrin's Tillinghast consulting unit found that U.S. tort costs grew by 5.4 percent in 2003 to $245.7 billion. On a per-U.S. citizen basis, that translates into $845 per person.
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