Jul 3, 2007

What’s The Chance Of Congress Passing Tort Reform?

Then Edward’s might have to get bargain-basement haircuts for $200.

From a
Cincinnati Business Courier article, by Washington Bureau Chief Kent Hoover, the cost of lawsuits or the measures taken to prevent them is costing Americas small business $98 billion a year.

The article states: “The study tracks damage awards, settlements, legal costs, liability insurance premiums and costs incurred by insurance companies on behalf of policy holders.”

This is from a
US Chamber Institute for Legal Reform study based on 2005 data. If you care to take a look at the study click: TORT LIABILITY COSTS FOR SMALL BUSINESS pdf required.

Since attorneys represent 25% to 50% of our state and federal legislators and 100% of our judiciary, the odds of effective tort reform getting passed is fodder for new lawyer jokes.