While insurance cases dropped as a whole in 2023, there was an increase in cases involving business liability, business interruptions, and non-hurricane homeowners policies in 2023
MENLO PARK, Calif., June 13, 2024 /PRNewswire/ — Lex Machina, a LexisNexis company, today 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:
- In 2023, 17,654 insurance cases were filed in federal district courts.
- In the three-year period from 2021 to 2023, the highest number of insurance cases was filed in the Eastern District of Louisiana.
- Insurance companies dominated the lists of the most active plaintiffs and the most active defendants.
- 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.
- $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
About LexisNexis Legal & Professional
LexisNexis Legal & Professional® provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,800 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
About Lex Machina
Lex Machina fundamentally changes how companies and law firms compete in the business and practice of law. The company provides strategic insights on judges, lawyers, law firms, parties, and other critical information across 22 federal practice areas and a rapidly growing number of state courts. Lex Machina allows law firms and companies to anticipate the behaviors and outcomes that different legal strategies will produce, enabling them to win cases and close business.
Lex Machina was named Winner of the “Media Excellence Award” for Analytics/Big Data 2024, “Great Places to Work 2023-2024”, one of “Legal Tech’s Most Promising Solution Providers” (CIO Review Awards 2022), “Greater Bay Area Top Workplaces 2022” (The San Francisco Chronicle Top Workplaces in the Bay Area 2022), “Legal Tech Company of the Year 2021” (CIO Review, 2021), “2021 Legal Technology Trailblazer” (National Law Journal Trailblazer Awards, 2021), and Winner of the “Media Excellence” Award for Analytics/Big Data (13th Annual Media Excellence Award, 2021). Based in Silicon Valley, Lex Machina is part of LexisNexis, a leading global provider of legal, regulatory, and business information and analytics. For more information, please visit www.lexmachina.com.
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