A handy new report from Lex Machina, which is ideal for US readers concerned about insurance related litigation. Here’s the word;
Lex Machina, a LexisNexis company, releases its 2024 Insurance Litigation Report.
The report examines insurance litigation trends in federal district and appellate courts. Focusing on the three-year period from 2021 to 2023, it surveys emerging trends in case filings, venues, judges, law firms, parties, timing metrics, case resolutions, findings, and damages. The report often focuses on different sets of data, e.g., filtering cases in order to provide analytics on general insurance cases, business liability insurance cases, business interruption insurance cases, hurricane-related insurance cases, homeowners policy insurance cases, and federal appellate cases.
“As insurance litigation is particularly diverse and nuanced with a wide variety of underlying claims, it is crucial to be able to hone in on the litigation trends in these different subsets of cases, as we do in this report,” said Ron Porter, Lex Machina’s insurance legal data expert and editor of the report. “By doing so, we gain important data-driven insights into the shifts and patterns in the practice area of insurance litigation. Practitioners can use these insights to sharpen their litigation strategy and advise their clients.”
Findings from the report include:
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In 2023, 17,654 insurance cases were filed in federal district courts.
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In the three-year period from 2021 to 2023, the highest number of insurance cases was filed in the Eastern District of Louisiana.
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Insurance companies dominated the lists of the most active plaintiffs and the most active defendants.
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For insurance cases that were appealed to a federal appellate court and terminated from 2021 to 2023 with a decision on the merits of the appeal, 21% were ultimately reversed.
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$1.56 billion in total damages were awarded as Approved Class Action Settlements from 2021 to 2023.
Lex Machina’s reports and software enable practitioners to devise data-driven litigation strategies. The metrics in this report can help readers decide who to pursue as clients, whether to file a particular motion, or when to settle (and for how much). This research supplements traditional legal research and anecdotal data for a competitive edge in court.
Register here for a copy of the report: https://pages.lexmachina.com/2024-Insurance-Report_LP.html
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