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Tort Costs Decrease For 1st Time This Decade: Study

Law360 (December 17, 2007, 12:00 AM EST) -- U.S. tort costs decreased by 5.5% in 2006, although they still totaled about $825 per person and 1.87% of the nation's gross domestic product, according to a study released Wednesday.

The study, conducted by the Tillinghast Insurance Consulting practice of Towers Perrin, found that U.S. tort costs totaled $247 billion in 2006, down from $261.4 billion in 2005. The $13.4 billion decrease marked the first downward trend since 1997 and came at the same time the economy increased 6.1%, the study said.

“In 2006, the modest...
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