NU Online News Service, Dec.15, 11:07 a.m. EST
Civil litigation costs rose only 1.1 percent in 2008, but this year the percentage may have nearly tripled, driven up by damage from the financial crisis and medical malpractice cases, a consulting firm reported.
The $2.7 billion 2008 increase in tort was listed in the Towers Perrin 2009 Update on U.S. Tort Cost Trends. The uptick in 2008 is the second cost escalation since 2005 and follows a $5.1 billion increase in 2007, the company said.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.