Dawn Vukovich’s Post

While we empathize with those injured, the recent lawsuits highlighted in this interview have led to an unexpected outcome. These verdicts raise significant concerns for manufacturers across industries. When adherence to federal safety regulations no longer suffices for protection, it prompts the question: what is the next step forward? Reflecting on this issue, the importance of tort reform becomes evident. #nuclearverdicts

In this webinar, three of our Travelers litigation leaders explore the tectonic shifts that are driving unprecedented volatility in liability claims. Learn more about what your business is up against and best practices for your company's response by visiting Travelers at #RIMS2022.

A few more reasons why insurance rates continue to rise.

Nuclear verdicts are reshaping the legal landscape. Learn about the devastating financial impacts of these high-cost judgments and their implications for businesses in the insurance industry in Marsh McLennan Agency's blog. #Litigation #ConstructionIndustry  

As they work to fortify the integrity of its insurance market, Georgia legislators are modeling the policies implemented in Florida to mitigate the frivolous claims litigation that has begun to permeate throughout the Peach State. Their goal is to curb the inflationary pressures on insurance premiums which can be attributed in no small part to frivolous lawsuits and disproportionate jury awards, termed 'nuclear verdicts.' In particular, GA legislators hope to emulate Florida's HB 837, which eliminated the option for nuclear verdicts and reduced the incentive for claims lawsuit abuse that is ultimately paid by consumers in the form of higher insurance premiums. https://lnkd.in/edWCHZaA

Given the increasing occurrence of nuclear verdicts within the transportation industry, fleets must adopt proactive measures to mitigate their risk exposure. This includes investing in driver training and technology, implementing comprehensive safety programs, and regularly reviewing and updating insurance coverage. Fleets can enhance road safety for all motorists and prevent the financial consequences of a nuclear verdict by adopting a proactive risk management strategy. #rameychandler #lawfirm #law #attorney #legal #lawyers #insurance #insurancedefense #justice #attorneyatlaw #attorneys #RCQ

Some fantastic points made in this article!!

$148 million verdict offers lessons well beyond the political realm. Read about those primary in the minds of our authors: Floyd Cottrell, partner, Rawle & Henderson LLP; Jeff Marshall, risk management and claims management consultant; and Steve Wood, Ph.D., senior litigation consultant, Courtroom Sciences Inc. https://bit.ly/4aDzvaW ⚡ Let us know in the comments, do you think a notorious verdict of this magnitude will promote further social inflation of jury verdicts in negligence lawsuits? ⚡ #CLMMagazine #Insurance #ClaimsManagement #LitigationManagement #InsuranceDefense

As this issue is addressed state by state relief from predatory litigation is still a long way out. Because of this USI's Transportation Division continues to work with clients around "litigation vulnerability." Through our risk control, technology partners, and transportation experts we offer guidance to our clients to better understand the areas that are exploited by predatory attorneys so they can improve their overall protection. #USI, #transportation, #trucking, #freight, #logistics, #nuclearverdict, #transport, #drivers

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