The cost of civil litigation puts a virtual $865 billion tax per year on insurance and other goods and services, according to a study released this week.
The Pacific Research Institute, a free-market think tank based in San Francisco, said that such tort costs make it harder for the United States to compete in global markets.
"Rising tort costs increase the demand for, and cost of, liability insurance," said David Golden, director of commercial lines for PCI. "The majority of what you pay in liability premiums goes directly to pay for tort costs."
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