Study: N.Y. households paying second highest tort costs
BUFFALO, N.Y. -- According to a recent study by the U.S. Chamber of Commerce, the national tort system, which allows businesses and individuals to seek monetary compensation for harm done to them by others, cost $529 billion in 2022.
Lawsuit Reform Alliance of New York Executive Director Tom Stebbins said consumers ultimately pay the price when businesses and insurance companies defend civil lawsuits and pay damages and settlements.