Lex Machina Reports Trends in Insurance Litigation for 2024 (Lex Machina)

Lex Machina Reports Trends in Insurance Litigation for 2024

Monday, June 17th, 2024 Insurance Industry Liability Litigation Property

Lex Machina, a LexisNexis company, has released its 2024 Insurance Litigation Report, providing an in-depth analysis of trends in federal district and appellate courts from 2021 to 2023. The report examines various subsets of insurance litigation, including business liability, business interruption, hurricane-related cases, and homeowners policy cases.

Ron Porter, Lex Machina’s insurance legal data expert, highlighted the report’s value in understanding shifts in litigation trends, enabling practitioners to refine their strategies and better advise clients. In 2023, 17,654 insurance cases were filed in federal district courts, with the Eastern District of Louisiana seeing the highest number of filings.

Key findings include that insurance companies were the most active plaintiffs and defendants, and 21% of federal appellate insurance cases decided on the merits were reversed. The report also notes that $1.56 billion in damages were awarded through Approved Class Action Settlements from 2021 to 2023.

State Farm Fire & Casualty Company was the most active defendant with 5,833 cases, followed by State Farm Mutual Automobile Insurance Company and Allstate Vehicle & Property Insurance Company. Additionally, 79% of cases were likely settled, 12% reached procedural resolutions, 8% saw the defendant win, and only 1% resulted in a claimant win.

Claims Pages Staff Writers are dedicated professionals covering a broad spectrum of insurance topics, including auto, catastrophe, education & training, fraud, legislation, liability, life & health, litigation, property, risk management, technology, underwriting, and workers' compensation. With over 25 years of distribution, our publication brings you accurate and timely information to keep you informed and ahead in the claims industry.

External References & Further Reading

Mid-America Catastrophe ServicesMid-America Catastrophe ServicesWeller SalvageChurchill Claims Services

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