Saturday, December 15, 2007
Towers Perrin has released its 2007 Update on U.S. Tort Costs Trends, which is available here. "Tort costs" are defined as: 1. benefits paid or expected to be paid to third parties, 2. defense costs, and 3. administrative expenses. Tort costs in 2006 declined by 5.5% from the previous year, the first decline since 1997.