Economic Benefits of Tort Reform in Florida

An Assessment of Excessive Tort Costs and Potential Economic Benefits of Reform

Published on January 14, 2020
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The civil justice system is a crucial institutional framework in America. When working properly, the system provides a fair and equitable forum for the resolution of disputes among parties, appropriately compensating those that have legitimately been harmed. Additionally, it acts as an effective deterrent to undesirable behavior. The civil justice system is designed to provide proper remedies for injured parties and incentives for responsible actions; it is not intended to be punitive, random, or unpredictable.

In order to evaluate the actual and potential economic benefits of tort reform in Florida, The Perryman Group (TPG) analyzed outcomes in the state using Ohio, which has engaged in notable tort reform in the recent past, as a benchmark. In this way, the excessive costs of the Louisiana tort system and the resulting consequences for economic activity can be quantified. Reform can reduce or eliminate these costs to the benefit of the state.

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