U.S. tort system costs totaled $429 billion in 2016, or 2.3 percent of the nation’s gross domestic product, but plaintiffs got just 57 cents on the dollar. That’s according to report released on Wednesday by the U.S. Chamber of Commerce’s Institute for Legal Reform at its annual summit in Washington, D.C.
The report, called “Costs and Compensation of the U.S. Tort System,” gave a state-by-state breakdown of costs that also included insurance payouts and legal fees to both defense and plaintiffs attorneys.
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