Hersch, Joni; Viscusi, W. Kip - In: American Law and Economics Review 9 (2007) 2, pp. 330-369
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...