Reforms of the civil litigation system appear to be having an incremental impact keeping claims growth low, according to a reinsurance brokerage analysis.
That finding and others are contained in "The U.S. Liability Report of 2006: A Review of Significant Events in Tort Law," produced by the Marsh & McLennan Companies subsidiary Guy Carpenter & Company, Inc.
One of the most important legal developments for insurers this year is still pending, according to the report--a U.S. Supreme Court ruling on Phillip Morris' appeal of a $79.5 million punitive damage judgment by an Oregon jury in a suit brought by a dead smoker's relatives.
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