TORT REFORM AND MASS TORTS: TOBACCO AS AN EXAMPLE

Joan T. Schmit

Risk Management and Insurance Review, 1998, vol. 2, issue 1, 64-75

Abstract: Abstract: As data regarding the U.S. tort liability system become more refined and dependable, evidence of the importance of mass torts is emerging. Much of the impetus for and debate surrounding tort reform, however, has focused on individual tort claims. The purpose of this research is to consider the unique characteristics of mass torts, particularly those that generate from latent injuries, with regard to the likely effect of currently popular tort reforms. The various tobacco litigation efforts are employed as mechanisms within which to undertake this consideration. The results indicate that care in designing tort reforms is necessary if modifications are to be effective in reducing the litigation costs associated with mass torts. Furthermore, research into the social benefit of various system structures currently being debated is warranted. The risk management and insurance community is interested in the debate and related reforms, both for purposes of reducing costs and for the purpose of increasing certainty of liability outcomes.

Date: 1998
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https://doi.org/10.1111/j.1540-6296.1998.tb00083.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:rmgtin:v:2:y:1998:i:1:p:64-75

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