Tort Inflation
Tort inflation is a term that describes the rising costs associated with tort litigation, including higher damage awards, expanded liability theories, and the overall financial burden on businesses and the legal system. This troubling expansion has significant implications for the economy, legal landscape, and consumer prices. According to our research, Tort Costs in America, costs and compensation paid into the U.S. tort system reached over $529 billion in 2022 — equating to 2.1 percent of U.S. GDP and over $4,200 per U.S. household. This concerning trend highlights the rising economic burden of tort-related expenses.
Tort Costs in America
International Tort Costs: A Comparative Analysis
An Analysis of the Economic Impact of Commercial Automobile Tort Costs
Tort Costs for Small Businesses
Nuclear verdicts
Nuclear verdicts refer to jury awards exceeding $10 million, often in personal injury or wrongful death lawsuits. Nuclear verdicts pose a significant challenge to the balance and fairness of the civil justice system. They not only affect the parties involved in the litigation, but they have broader economic and societal consequences. It is crucial for the legal system to address the factors contributing to nuclear verdicts and seek reforms that promote greater fairness.
