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Explore the need for changes in the legal system regarding torts and public policy. Delve into issues like unreasonable settlements, high legal costs, and delays in civil court, while considering the benefits of fair compensation, deterrence of misconduct, and protection of individuals. Discover the types of tort reform and debated topics like damages limits and medical malpractice concerns.
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Torts & Public POlicy What needs to be changed?
Does the system need an overhaul? No, it does not: Unreasonable settlements Court/lawyer is too expensive Takes too long in civil court Cases often go against common sense Yes, it does: • Fairly compensates injured victims • Allocates benefits to victims & costs to wrongdoers • Deters unreasonable conduct • Protects individuals from exploitation by large companies So, which is it?
Types of Tort Reform Process reform: • Arbitration/mediation before going to court • Statute of limitations – how long do you have to file a claim?
Types of Tort Reform Damages: • Wish to put a limit on non-economic& punitive damages ($$ amount for punitive damages can often exceed payment for injuries)
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
Medical Malpractice Protecting the patients or saddling the doctors with unnecessary problems?
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.