• The Impact of Ohio’s Economic Loss Rule on Commercial and Professional Liability Litigation
  • January 30, 2017 | Author: David J. Oberly
  • Law Firm: Marshall Dennehey Warner Coleman & Goggin, P.C. - Cincinnati Office
  • The economic loss rule prevents the assertion of a tort claim for pure economic loss in the absence of any physical injury or property damage to the claimant. The rule operates to avoid a party’s liability for tort damages arising from negligence-based claims for purely financial losses, where there is no privity of contract. In recent years, the economic loss rule has expanded rapidly throughout Ohio in the areas of commercial and professional liability litigation. When applicable, the economic loss rule represents an almost insurmountable obstacle to overcome, completely shielding professionals and companies of all types from liability for economic losses under tort law. As a result of the strength of the defense and the increasing frequency in which the doctrine is being used throughout Ohio courts, it is imperative that both plaintiff’s attorneys and defense practitioners maintain an intricate understanding of the doctrine to successfully use or sidestep application of the rule in the litigation of claims involving commercial and professional liability.