GCs Forecast Soft Product Liability Market In 2014

Law360 (Link to Full Article) Product liability attorneys should brace for clients to spend $100 million less on litigation work in 2014 as companies continue to price out their risks effectively and competition within the legal industry keeps rates low, according to a new survey of corporate counsel.

Spending on product liability casework dropped from $2.5 billion in 2010 to $2.1 billion in 2012 before holding steady this year at $2.1 billion, according to the BTI Litigation Outlook 2014 report published by BTI Consulting Group (Wellesley, Mass.).