Here is a suggestion on how to deal with Toxicity!
So I have seen the increasing amount of toxicity in the game, and the worst is in champ select. I feel like there is an easy way to deal with this: A GM System. You get volunteers, who either play the game (they benefit from removing these toxic players), or hire people who want to work like this, to standby on a shift. Then you add a button to champion select and ingame, as well as postgame, to be able to pull a GM into that specific lobby or game so they can see what is going on. Then it is up to their best judgement of the Summoner's Code whether that person is deserving of a chat restriction or ban, and it is immediate within 2 or 3 minutes like WoW. They get to see status of account in terms of toxic nature so they can make the best judgement. Which means that if its a very rare game where someone is toxic, there wont be a punishment handed out, more just a warning, a "we are watching you" type of thing.
This prevents another issue that I've seen, where people are getting banned for saying gg, ez, and playing something off meta and having a bad game. The reality is these people should not be banned, and i feel like hiring GM's will also remove this problem. Please take this into consideration, I myself would volunteer instantly. You don't have to pay me, just give me the ability to remove hostage takers from games, and I'll be happy. The reason I'm suggesting this, is the current report system is so far from decent that it makes me sad.