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Oil spill in Gulf drove 2010 increase in tort costs

The Deepwater Horizon drilling rig explosion and subsequent oil spill in the Gulf
of Mexico in April 2010 “were the key drivers in the 5.1 percent increase in U.S.
tort costs in 2010, according to a new report. The 2011 ‘Update on U.S. Tort Cost
Trends’ from global professional services company Towers Watson found that without
the costs of the Gulf event, tort costs would have decreased by 2.4 percent for the year. Per the study, in 2010, the U.S. tort system cost a total of $264.6 billion, or $857 per U.S. citizen, compared with $820 per U.S. citizen in 2009. (Insurance Journal – January 27, 2012). Find out how Kevin J. McNamara Law Offices, P.C. can help you and your family. For a free consultation call 312-201-8850 or contact us online.

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