US dimension

US tort system sees US$443 billion in costs and compensation

A new economic study by the US Chamber of Commerce Institute for Legal Reform (ILR) has found that the costs and compensation paid in the US tort system totalled US$443 billion – or 2.1 per cent of national gross domestic product and US$3,621 per household – in 2020. Yet only 53 cents of every dollar go to plaintiffs, with the rest covering litigation costs and other expenses.