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Explain mean lower costs of goods and services

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Large damages awards in tort litigation have to be paid by someone. If the defendant is insured, then insurance companies foot the bill. Ultimately, though, high insurance rates are passed on to consumers of goods and services in the United States. Will tort re­form that reduces the size and number of damages awards ultimately mean lower costs of goods and services? Will tort reform lead to higher risks associated with services and products?

Reference no: EM132870459

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