The quantity of claims litigation in Florida continues to subside and by December had dropped virtually 50% under final summer time’s excessive level, a lawsuit-tracking service introduced Wednesday.
December knowledge from Florida’s 17 largest property and casualty insurers present the variety of new litigated claims dropped 7% from November to December. The December quantity was half of the July excessive of 6,663 litigated claims, based on CaseGlide, a litigation administration software program firm that tracks litigation.
Three insurers noticed a lower of a minimum of 20% and three had decreases between 10% and 19% for December. One provider famous a rise of 28%; 4 had will increase between 1% and 5%; and one other confirmed no change.
“The December 2021 outcomes are following a traditional sample of trailing off because the calendar 12 months ends,” mentioned Wesley Todd, CEO of CaseGlide. The continued lower from July is most definitely tied to the SB 76 Invoice going into impact, and we count on to see ranges normalize as we transfer into 2022.”
Senate Invoice 76, accredited by th 2021 Florida Legislature and signed into regulation, aimed to restrict legal professional charges, deter deceptive solicitation of house owners who could not want a brand new roof, and took different steps to cut back insurance coverage claims litigation. Though some insurance coverage trade advocates are urging lawmakers this 12 months to take additional measures to discourage lawsuits and scale back losses, different officers have mentioned the invoice is having an affect and will take two years to point out its full impact.
The unhealthy information, the CaseGlide knowledge present, is that assignment-of-benefits litigation rose in December. Ten insurers reported that greater than 30% of their newly litigated instances had been AOB, Todd mentioned. The highest 10 AOB contractors within the state proceed to characterize 30% of all AOB-related litigated claims, with the highest contractor liable for 6%.
Much like the prior six months’ outcomes, geographic distribution of all new litigated claims stays largely unchanged. Miami-Dade County represents 24% of latest litigated instances, with Broward County at 16%; Palm Seaside County noticed 7%; Orange County at 7%; and Hillsborough County at 7%.
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