Swiss Re figures show US pays more than half all premiums
Swiss Re says businesses spent $142bn in 2008 on liability insurance with more than half ($77bn) paid by businesses in America, the Economist reports.
$11 billion was paid by doctors insuring themselves against lawsuits for malpractice. America also spent the largest share of its GDP on liability insurance, followed by Britain and Australia.
The Chinese market has grown at an average annual rate of 22% since 2000. It is the world’s tenth largest but is a smaller share of GDP.
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