Tort Liability Litigation Costs for Commercial Claims

• Autores: Joni Hersch, W. Kip Wiscusi
• Localización: American law and economics review, ISSN 1465-7252, Vol. 9, Nº. 2, 2007, págs. 330-369
• Idioma: inglés
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• Resumen

  • This article analyzes tort liability litigation costs using the Texas Department of Insurance Commercial Liability Insurance Closed Claim database for the years 1988¿2004. Insurer costs to defend claims in which a suit was filed average $35,000 per claim in 2004$, which corresponds to a share of 0.18 of total expenditures. Claims with higher stakes and complexity lead to greater reliance on outside counsel and less reliance on in-house counsel. Total transactions costs for each dollar received by claimants average $0.75 for all claims and $0.83 for claims in which the claimant retained an attorney and a suit was filed.