TORTS & PUBLIC POLICY WHAT NEEDS TO BE CHANGED?. DOES THE SYSTEM NEED AN OVERHAUL? NO, IT DOES NOT:...
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Transcript of TORTS & PUBLIC POLICY WHAT NEEDS TO BE CHANGED?. DOES THE SYSTEM NEED AN OVERHAUL? NO, IT DOES NOT:...
![Page 1: TORTS & PUBLIC POLICY WHAT NEEDS TO BE CHANGED?. DOES THE SYSTEM NEED AN OVERHAUL? NO, IT DOES NOT: Fairly compensates injured victims Allocates benefits.](https://reader035.fdocuments.in/reader035/viewer/2022062423/5697bfec1a28abf838cb87ce/html5/thumbnails/1.jpg)
TORTS & PUBLIC POLICYWHAT NEEDS TO BE CHANGED?
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DOES THE SYSTEM NEED AN OVERHAUL?
NO, IT DOES NOT:
Fairly compensates injured victims
Allocates benefits to victims & costs to wrongdoers
Deters unreasonable conduct
Protects individuals from exploitation by large companies
Unreasonable settlements
Court/lawyer is too expensive
Takes too long in civil court
Cases often go against common sense
YES, IT DOES:
SO, WHICH IS IT?
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Arbitration/mediation before going to court
Statute of limitations – how long do you have to file a claim?
Process reform:
TYPES OF TORT REFORM
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Wish to put a limit on non-economic & punitive damages ($$ amount for punitive damages can often exceed payment for injuries)
Damages:
TYPES OF TORT REFORM
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TORT STATS
On average, only 5% of civil suits are torts
Plaintiffs win ½ of the time
The average settlement is under $30,000
93% of torts are settled before they even go to court
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Protecting the patients or saddling the doctors with unnecessary problems?
MEDICAL MALPRACTICE
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SAFETY: HOW MUCH ARE WE WILLING TO PAY?
A safer world is a more expensive world
Catch 22: Companies must pay more for safer products. They may sometimes cut corners to save money. This opens them up to expensive lawsuits involving defective products.