CLM Alliance (Claims and Litigation Management Alliance)’s Post

As more states move to institute tort reform and caps on damages, the topics have become more central in jury selection. Most judges nowadays will allow a question about damages caps on a questionnaire, and in voir dire, jurors may offer expansive opinions on the issue. Whether its enough to warrant a cause challenge has been mixed—sometimes judges have an imperfect understanding of how damages will actually be argued and other times the caps are treated as independent of the trial court entirely. But it has been interesting to see awareness of the issue rise alongside the prominence of nuclear verdicts, even when its simply a result of eye-catching (and arguably oversimplified) headlines like this one. #jurytrials #litigation #tortreform https://lnkd.in/eAeJnnJk

Did you know that nuclear verdicts are reshaping the insurance landscape for construction businesses? Find out how to navigate the challenges. #Insurance #Litigation #MarshMMA

Tom Thornberry, Group Chief Claims Officer at Zurich Insurance, sheds light on the alarming rise of litigation abuse, a trend that's impacting both the US and Europe. Key drivers include the influence of third-party litigation funders, the rise of nuclear verdicts, and emerging risks in sectors like PFAS. https://hubs.la/Q02_Bqqh0

Some fantastic points made in this article!!

Once notorious for its exorbitant legal payouts in the form of nuclear verdicts, Florida has experienced a significant shift. The Sunshine State, which was previously ranked second in the nation for nuclear verdicts, or awards in excess of $10 million, has now fallen to seventh place. The reform measures appear to have not only impacted the size of awards and a reduction in the median settlement amount in the state. The turnaround is attributed to legislative efforts aimed at curbing legal system abuse, marking a pivotal moment in the state's legal landscape. This helps explain why nine property insurance companies have reduced rates and ten others have announced that they will not be increasing rates in 2024, on top of eight new companies having been formed in the state since reform measures were enacted. An analysis of the numbers paints a compelling picture of this shift. In 2023 post-reform, Florida saw a total of $491 million awarded in nuclear verdicts, with $316 million arising from state court decisions and $175 million from federal courts. These figures signify a significant deviation from the state's earlier staggering total of $33.2 billion awarded across 175 nuclear verdicts between 2009 and 2023, positioning Florida as the second-highest in the U.S. during this period. With a 27% nationwide surge in nuclear verdicts in 2023, it becomes evident that Florida’s reformation efforts stand out amidst this national trend. https://lnkd.in/epaJnVqE

HB Litigation has produced a timely CLE webinar focusing on $10M+ nuclear verdicts which juries are returning with increasing frequency.  Just recently a PA couple won $10m in their lawsuit against an international comic book grading giant! Is there a better way to achieve justice? Register for our CLE OnDemand webinar – exclusively on the West LegalEdcenter platform – in which long-time experts on mediation and negotiation dive into this consequential and controversial subject for litigators, plaintiffs, and companies.  #hblitigation #litigation #nuclearverdict #CLE #settlements #legaleducation

Litigation abuse continues to escalate, with record-setting nuclear verdicts and the rising influence of third-party litigation funders. In a recent roundtable, Zurich Insurance’s Group Chief Claims Officer, Tom Thornberry, shared valuable insights on these trends and the importance of proactive claims management. https://hubs.la/Q02_DKN70

The implementation of tort reform in Florida has led to a 25% reduction in nuclear verdicts, underscoring the impact tort reform can have in liability outcomes. #TortReform #RiskManagement https://bit.ly/4dKMgm3

Schulte partner Ted Keyes discussed judgment preservation insurance (JPI) transactions with Law360 for the article "How Big IP Judgment Winners Are Insuring 'Nuclear Verdicts.'" Nuclear verdicts refer to large monetary awards secured by plaintiffs who often have to wait out a lengthy appellate process before gaining access to the funds or finding out how much of the award will remain intact. JPI policies allow parties who secure large monetary awards to pay a premium to guarantee recovery of a portion of the award. Ted stated "Most but not all of the JPI transactions that we have been involved with have involved IP cases and, more specifically, patent litigation." He continued "These deals have all involved judgments in excess of $10 million and some have involved judgments in the hundreds of millions." JPI policyholders can also use their policies as loan collateral, getting partial access to their money for business investments or to aid with appeal costs. Appeals in patent cases can last as long as 10 years. "It can take many years for a claimant to get through the appeals process and actually collect on a judgment," Ted said. "The ability to use a JPI policy as collateral for a loan gives a claimant the option to monetize a portion of the judgment in the near term." Read more: https://bit.ly/3QzOueG #SchulteLaw #Litigation #IntellectualProperty

If you missed Robert Tyson and Ashley Paige Fetyko's recent webinar with CLM Alliance (Claims and Litigation Management Alliance), "Personalize the Corporate Defendant or the Plaintiff Will Villainize Them," be sure to check out this recap article! Thank you, CLM Alliance (Claims and Litigation Management Alliance)! #CLM #TysonMendes #PersonalizeDefendant #NuclearVerdicts #InsuranceDefense