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Tuesday, 8th June 2010

2010 Tort Liability Index Ranks States’ Tort Climate -- Alaska ranks best, New York and New Jersey worst

2010 Tort Liability Index Ranks States’ Tort Climate -- Alaska ranks best, New York and New Jersey worst
Source: Pacific Research Institute

The Pacific Research Institute (PRI), a free-market think tank based in San Francisco, and the Manufacturers Alliance/MAPI, a public policy and economic research organization based in Arlington, VA, announced today the release of the 2010 U.S. Tort Liability Index, a measure of which states impose the highest and lowest tort costs and risks. Alaska, Hawaii and North Carolina lead the pack with the best rankings, while New Jersey, New York and Florida bring up the rear. The Index, now in its third edition, was authored by Lawrence J. McQuillan, Ph.D., director of Business and Economic Studies, and Hovannes Abramyan, M.A., adjunct public policy fellow.

“Direct tort costs account for almost 2 percent of GDP in the United States—that’s the highest in the world,” said Dr. McQuillan. “These high costs impact American businesses when firms have to divert revenue to fight lawsuits. But all of us ultimately shoulder the burden through higher prices and insurance premiums, lower wages, restricted access to health care, less innovation, and higher taxes to pay for court costs.”

“If lawmakers want to put people back to work, without costing taxpayers another penny for so-called ‘stimulus’, they should enact needed lawsuit reform,” added Mr. Abramyan. “Job growth was 57 percent greater in the 10 states with the best tort climates than in the 10 states with the worst tort climates.”

+ 2010 U.S. Tort Liability Index


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