March 2016
Intermediate to advanced
700 pages
144h 54m
English
Content preview from Principles of Risk Management and Insurance, 13th EditionBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Current Tort Liability Problems
The tort liability system has numerous problems at the present time. It is beyond the scope of the text to discuss all tort problems in detail. However, three timely problem areas merit a brief discussion:
Defective tort liability system
Medical sector claims
Liability arising from technological and societal change
Defective Tort Liability System
Critics maintain that the present tort system has numerous defects that reduce its effectiveness in compensating injured victims. Major defects include the following:
Rising tort liability costs
Inefficiency in compensating injured victims
Uncertainty of legal outcomes
High jury awards
Long delays in settling lawsuits
Rising Tort Liability Costs
Critics claim that the tort ...
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