Get 20M+ Full-Text Papers For Less Than $1.50/day. Subscribe now for You or Your Team.

Learn More →

Tort Liability Litigation Costs for Commercial Claims

Tort Liability Litigation Costs for Commercial Claims 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Law and Economics Review Oxford University Press

Tort Liability Litigation Costs for Commercial Claims

Loading next page...
 
/lp/oxford-university-press/tort-liability-litigation-costs-for-commercial-claims-AVtZgCBYgu

References (14)

Publisher
Oxford University Press
Copyright
Copyright © The Author 2007. Published by Oxford University Press on behalf of the American Law and Economics Association.
Subject
Articles
ISSN
1465-7252
eISSN
1465-7260
DOI
10.1093/aler/ahm011
Publisher site
See Article on Publisher Site

Abstract

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.

Journal

American Law and Economics ReviewOxford University Press

Published: Oct 19, 2007

There are no references for this article.