States Acting to Curb Nuclear Verdicts Across US

Dec 30, 2024 at 07:36 AM CST
State lawmakers are taking wider aim at lawsuit abuse, working to curtail an issue that for years has vexed the trucking industry and which now is drawing more mainstream legislative attention due to the thousands of dollars per year it is estimated to cost average Americans. Per the U.S. Chamber of Commerce, frivolous lawsuits are estimated to cost the average U.S. household more than $4,000 per year, as measured in tort costs incurred by each state. The Chamber’s Institute for Legal Reform put costs and compensation in the U.S. tort system at $529 billion in 2022, equal to 2.1% of GDP and averaging $4,207 per household. The per-household costs per state vary and consist of total court costs paid in individual states, and the figures include general and commercial litigation liabilities (such as personal injury claims), automobile accident claims and medical liability claims. The findings come from the Chamber’s recently updated analysis, “The Hidden Costs of Lawsuits Continue to Grow.”

Dec 30, 2024 at 07:36 AM CST

State lawmakers are taking wider aim at lawsuit abuse, working to curtail an issue that for years has vexed the trucking industry and which now is drawing more mainstream legislative attention due to the thousands of dollars per year it is estimated to cost average Americans. Per the U.S. Chamber of Commerce, frivolous lawsuits are estimated to cost the average U.S. household more than $4,000 per year, as measured in tort costs incurred by each state. The Chamber’s Institute for Legal Reform put costs and compensation in the U.S. tort system at $529 billion in 2022, equal to 2.1% of GDP and averaging $4,207 per household. The per-household costs per state vary and consist of total court costs paid in individual states, and the figures include general and commercial litigation liabilities (such as personal injury claims), automobile accident claims and medical liability claims. The findings come from the Chamber’s recently updated analysis, “The Hidden Costs of Lawsuits Continue to Grow.”