Lang Sias, the Mike A. Leprino Free Enterprise Fellow at the Common Sense Institute (CSI), said that Colorado had the ninth-highest tort cost per resident in 2020 and experienced the second-fastest growth in litigation costs among eight states studied. This statement was made in a CSI report.
"According to a report by the US Chamber of Commerce, Colorado had the 9th-highest tort cost per resident in 2020," said Sias, CSI Mike A. Leprino Free Enterprise Fellow. "Between 2016 and 2020, Colorado experienced the second-highest rate of population-adjusted tort cost growth among the eight states studied in this report. Only California's costs grew faster."
A report by the U.S. Chamber Institute for Legal Reform examines tort costs and compensation across the United States, providing an analysis of how legal expenses are distributed at both national and state levels. The report highlights that tort costs can vary significantly by state and over time, affecting not only insurance premiums and business costs but also broader economic activity. It explains that states with higher tort costs may face challenges attracting and retaining businesses, as increased litigation expenses can influence decisions about investment, job creation, and economic growth.
According to the 2024 report by the U.S. Chamber Institute for Legal Reform, Colorado ranked ninth in tort cost per resident in 2020 among all U.S. states. The report provides a detailed analysis of the financial impact of tort litigation on residents, showing that Colorado's tort costs per capita were among the highest nationwide. These elevated costs reflect the extent of legal expenses and compensation paid out in the state.
A U.S. Chamber of Commerce analysis highlights the growing hidden costs associated with lawsuits, noting that between 2016 and 2020, states like Colorado saw some of the fastest increases in litigation expenses. The report explains that increased lawsuit activity can result in higher insurance premiums, operational costs, and expenses for both businesses and consumers. The trend in rising legal costs places additional pressure on state economies and can contribute to broader economic challenges.
Lang Sias is an American politician and former member of the Colorado House of Representatives for District 27, where he served from 2015 to 2019. Sias is a former Navy fighter pilot and Topgun instructor who later served in the Air National Guard and holds degrees from Vassar College, the London School of Economics, and the University of Michigan Law School. He was also the Republican nominee for lieutenant governor of Colorado in 2018 and has worked as a 777 pilot for FedEx.