dc.contributor.author | Hersch, Joni, 1956- | |
dc.contributor.author | Viscusi, W. Kip | |
dc.date.accessioned | 2014-08-20T17:39:47Z | |
dc.date.available | 2014-08-20T17:39:47Z | |
dc.date.issued | 2007 | |
dc.identifier.citation | 7 Am Law Econ. Rev. 484 (2007) | en_US |
dc.identifier.uri | http://hdl.handle.net/1803/6668 | |
dc.description.abstract | This article analyzes tort liability litigation costs using the Texas Department of Insurance Commercial Liability Insurance Closed Claim database for the years 1988–2004. Insurer costs to defend claims in which a suit was filed average $35,000 per claim in 2004$, which corresponds to a share of 0.18 of total expenditures. Claims with higher stakes and complexity lead to greater reliance on outside counsel and less reliance on in-house counsel. Total transactions costs for each dollar received by claimants average $0.75 for all claims and $0.83 for claims in which the claimant retained an attorney and a suit was filed. | en_US |
dc.format.extent | 1 PDF (60 pages) | en_US |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en_US |
dc.publisher | American Law and Economics Review | en_US |
dc.subject.lcsh | Actions and defenses -- Texas -- Costs | en_US |
dc.subject.lcsh | Tort liability of corporations -- Texas | en_US |
dc.title | Tort Liability Litigation Costs for Commercial Claims | en_US |
dc.type | Article | en_US |
dc.identifier.ssrn-uri | http://ssrn.com/abstract=991696 | |