Florida's legal system trumps expenses in other states - Jacksonville Business Journal

Florida has earned a reputation as a litigious state with some of the busiest courthouses in the nation, and a new report shows that the dollars flowing through the Sunshine State’s legal system dwarf other states by a wide margin.

Florida ranks second only to California’s $60.2 billion in total tort costs, but in terms of costs as a percentage of gross domestic product, no other state comes close. Tort costs amount to 3.63% of Florida’s GDP; in California, that figure is 2%. According to an attorney at South Florida law firm Kaufman Dolowich & Voluck, “carriers are facing an onslaught of litigation unlike anyplace else in the country.”, who represents insurers in claims disputes, said insurance companies “just don’t feel like they can get a fair shake in Florida, whether in the court system or as the result of jury perceptions.”

A significant disparity exists between the actual beneficiaries of compensation paid in Florida’s tort system and the U.S. broadly.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why the nation's largest medical school wanted to come to Jacksonville - Jacksonville Business JournalHere's the details on the new school, a milestone both for Jacksonville University and the city.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Johnson & Johnson Vision investing in Jacksonville - Jacksonville Business JournalJohnson & Johnson Vision is one of the largest employers in the area with more than 3,500 workers at the Jacksonville site.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Industrial demand high in Jacksonville though investors wary of economy, experts say - Jacksonville Business JournalIndustrial space has been a thriving market in Jacksonville in terms of transactions though space is in short supply heading into 2023.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Charles Schwab Corp. to hire hundreds in Florida - Jacksonville Business JournalThe move would grow the company's status among the largest employers in Central Florida.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Florida Gov. Ron DeSantis speaks out on feud with Disney - Jacksonville Business Journal'We didn't drag them in ... they went in on their own,' said DeSantis.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Charles Schwab Corp. to hire hundreds in Florida - Jacksonville Business JournalThe move would grow the company's status among the largest employers in Central Florida.
Source: JaxBizJournal - 🏆 599. / 51 Read more »