Lex Machina Publishes 2024 Insurance Litigation Report | Insurance business America
In 2023, cases decreased, but cases also increased
Legal insights
By Kenneth Araullo
Lex Machina, a LexisNexis company, has released its 2024 Insurance Litigation Report, which analyzes trends in insurance litigation in federal district and appellate courts.
The report covers the period from 2021 to 2023 and examines trends in filings, jurisdictions, judges, law firms, parties, time metrics, case resolutions, findings and damages.
Emphasis is placed on various subsets of data, including general insurance claims, business liability claims, business interruption claims, hurricane claims, homeowners insurance claims, and federal appellate cases.
Ron Porter, insurance law data expert at Lex Machina and editor of the report, emphasized the importance of understanding litigation trends across different case subsets.
“This gives us important data-driven insights into the changes and patterns in the insurance litigation practice area. Practitioners can use these insights to sharpen their litigation strategy and advise their clients,” said Porter.
In 2023, 17,654 insurance cases were filed in federal district courts. From 2021 to 2023, the Eastern District of Louisiana had the most insurance claims filed. Insurance companies were the most active plaintiffs and defendants during this period.
Of the insurance cases that were appealed to a federal appeals court between 2021 and 2023 and concluded with a decision on the merits, 21% were ultimately reversed. In addition, a total of $1.56 billion in damages were awarded as approved class actions from 2021 to 2023.
State Farm Fire & Casualty Company had the most active defendants from 2021 to 2023, with the company recording 5,833 cases. State Farm Mutual Automobile Insurance Company followed with 2,138 cases, while Allstate Vehicle & Property Insurance Company ranked third with 1,368 cases.
According to Lex Machina, 79% of cases recorded resulted in court victories in district courts and resulted in likely settlements. More than one in ten (12%) achieved a procedural resolution and 8% saw the defendant prevail. In only 1% of cases did the plaintiff win a closed case resolution.
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2024-06-14 14:29:54
www.insurancebusinessmag.com
