Excessive litigation and the abuse of U.S. legal system are effectively imposing a tax on the U.S. economy and causing a surge in liability insurance costs, according to John Doyle, president and chief executive officer of Marsh McLennan.
“The U.S. already has the highest liability insurance rates in the world and escalating costs will only make it harder for companies to decide to invest and grow here,” he said during an analysts’ call to discus…