Louisiana’s annual tort system costs pegged at more than $4,000 per household

Louisiana lawsuit costs are among the highest in the nation, with annual expenses in 2016 reaching nearly $7 billion – or the equivalent of $4,015 per household – according to a new study on the cost of tort litigation in all 50 states.

The study released last week by the U.S. Chamber of Commerce Institute for Legal Reform (ILR) reported that on average, U.S. tort system costs amount to $3,329 per household, which is about 2.3 percent of the nation’s gross domestic product. So the tort system costs in Louisiana are 20.6 percent higher than the national average.

The study examined liability exposure data on businesses and individuals who are either self-insured or uninsured, as well as liability insurance premium numbers…

 

Click Here For Remainder of Article 

Posted in: LOGA News

About the Author:

Post a Comment