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posted on Dec. 14, 2006
Study: U.S. Tort Costs Total $261 Billion in 2005
Growth rate for tort costs is the smallest since 1997
U.S. tort costs totaled $261 billion in 2005, which is approximately $880 per person and $4 less per person than in 2004, according to the 2006 Update on U.S. Tort Cost Trends from the Tillinghast business of Towers Perrin. The growth rate of tort costs in 2005 was 0.5 percent, which is significantly lower than the growth rate of 5.7 percent in 2004 and 5.5 percent in 2003. The $1.1 billion increase over tort costs in 2004 is the smallest since 1997. The 2006 Update analyzes U.S. tort costs from 1950 through 2005, with projections through 2008.
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