torts & public policy what needs to be changed?. does the system need an overhaul? no, it does...
TRANSCRIPT
TORTS & PUBLIC POLICYWHAT NEEDS TO BE CHANGED?
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?
Arbitration/mediation before going to court
Statute of limitations – how long do you have to file a claim?
Process reform:
TYPES OF TORT REFORM
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
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
Protecting the patients or saddling the doctors with unnecessary problems?
MEDICAL MALPRACTICE
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.