GCs Forecast Soft Product Liability Market In 2014

Law360, New York (September 9, 2013, 1:57 PM EDT) -- Product liability attorneys should brace for clients to spend $100 million less on litigation work in 2014 as companies continue to price out their risks effectively and competition within the legal industry keeps rates low, according to a new survey of corporate counsel.

Spending on product liability casework dropped from $2.5 billion in 2010 to $2.1 billion in 2012 before holding steady this year at $2.1 billion, according to the BTI Litigation Outlook 2014 report published by BTI Consulting Group (Wellesley, Mass.).

In 2014, the market...
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