U.S. Tort Costs Up Slightly in 2007; Significant Increases Anticipated for 2008
Source: Towers Perrin
From press release:

Fueled by the first increase in automobile accident frequency since 1999, tort costs in the United States rose by 2.1% in 2007, according to the 2008 Update on U.S. Tort Cost Trends from global professional services firm Towers Perrin. The $5.1 billion climb from 2006 costs marks the first cost escalation since 2005 and comes on the heels of a 5.6% decline in 2006.

Further, due to the continuing fallout of the 2007 subprime mortgage debacle and the current global financial crisis — as well as such factors as the impact of mercurial fuel prices on personal auto liability costs and the potential for increased activity in the area of employment practices liability — Towers Perrin is estimating that U.S. tort costs will increase 4% in 2008 and an additional 5% in both 2009 and 2010.

+ Full Report (PDF; 343 KB)

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