
In 2004, the U.S. Chamber Institute for Legal Reform commissioned NERA Economic Consulting to quantify the cost of tort litigation to small businesses. That study has been widely cited by policy analysts and policy makers. In the interest of providing data that is current, ILR has commissioned an update on small business tort costs from NERA Economic Consulting. (Note: the 2004 study, using the most recent available data, was based on 2002 figures; this update is based on 2005 data.) The results show that small businesses continue to bear a significant share of tort costs.
Source: Institute for Legal Reform
Released: May 17, 2007