"Tort Costs" Decline in 2006

Brooks Schuelke

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The Tillinghast Insurance Consulting practice of Towers Perrin (a large consulting firm) has just released its 2007 Update on US Tort Costs, their 11th study on the subject. This study, which has traditionally been criticized for being pro-insurance, concluded that tort costs went down 5.5% in 2006. Compare that with an annual increase in the US Gross Domestic Product as growing at 6.1% in 2006, and the difference is even more impressive. According to the study, this is the third year in a row that tort costs have grown at a slower rate than the economy.