Lex Machina Releases 2024 Insurance coverage Litigation Report

Lex Machina, a LexisNexis firm, has launched its 2024 Insurance coverage Litigation Report, analyzing traits in insurance coverage litigation in federal district and appellate courts.

Reports It covers the interval 2021-2023 and examines traits in litigation filings, venues, judges, regulation corporations, events, timing indicators, litigation resolutions, investigation findings and harm awards.

It focuses on totally different subsets of knowledge, together with common insurance coverage circumstances, enterprise legal responsibility insurance coverage circumstances, enterprise interruption insurance coverage circumstances, hurricane-related insurance coverage circumstances, owners insurance coverage circumstances, and federal appellate circumstances.

Ron Porter, insurance coverage authorized knowledge professional at Lex Machina and editor of the report, emphasised the significance of understanding litigation traits throughout totally different subsets of circumstances.

“In doing so, it gives crucial data-driven insights into adjustments and patterns within the insurance coverage litigation follow space. Practitioners can use these insights to hone their litigation methods and advise their purchasers,” Porter stated.

There have been 17,654 insurance coverage lawsuits filed in federal district courts in 2023. The Jap District of Louisiana had the very best variety of insurance coverage lawsuits filed between 2021 and 2023. Insurance coverage corporations had been probably the most lively plaintiffs and defendants throughout this era.

Of the insurance coverage circumstances appealed to federal appellate courts and concluded with substantive judgments between 2021 and 2023, 21% had been finally overturned. Moreover, a complete of $1.56 billion in damages was awarded in accepted class motion settlements between 2021 and 2023.

State Farm Fireplace & Casualty Insurance coverage Co. was the defendant with probably the most lawsuits, recording 5,833 circumstances from 2021 to 2023. State Farm Mutual Car Insurance coverage Co. adopted with 2,138 circumstances, and Allstate Car & Property Insurance coverage Co. got here in third with 1,368 circumstances.

In terms of authorized victories in native courts, 79% of recorded circumstances are prone to finish in settlement, based on Lex Machina. Multiple in 10 circumstances (12%) reached a procedural decision, and eight% resulted in a win for the plaintiff. Of the circumstances that had been accomplished, only one% resulted in a win for the plaintiff.

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