Tag: economic benefits of tort reform
Business Leaders: Tort Reform Can Save Florida Billions
The study shows torts currently cost Florida $10.0 billion in annual direct costs, $15.5 billion in annual output (gross product), around 167,750 jobs, $811.1 million in annual state revenues and $679.4 million in annual local government revenues and claimed excess torts result in a “tort tax” of $719.01 per person.
Excessive Litigation Costs Florida $11.8 Billion, 126,000 Jobs, Study Finds
The Perryman Group, an economic forecasting firm, produced the study for Citizens Against Lawsuit Abuse “by using a variety of data from surveys, industry information, and other source material" and using “Florida’s excess litigation costs using Ohio as a benchmark, since Ohio ranked near the middle in a recent 50-state lawsuit climate survey, while Florida ranked 46th.”
