Thermonuclear Verdicts
Published June 24, 2025 at 1:57 PM · News Releases and Bulletins
It seems like just yesterday we were worried about juries and courts issuing nuclear verdicts. Those are lawsuit decisions, or settlements, topping $10 million. A new study from Marathon Strategies titled, Corporate Verdicts Go Thermonuclear — 2025 Edition, takes an even more frightening look at nuclear verdicts.
“These verdicts are not only rising in number, but in size and scope,” the report notes.
There were 135 lawsuits against corporations in 2024. It is the largest number since 2009 and a 52% rise over 2023. The total sum of the verdicts in the 135 suits hit $31.3 billion — a 116% increase over 2023’s verdicts.
Joshua Hackett of Munich Re — whose company co-financed the study with the Triple-I — says the litigious society we find ourselves in, and exorbitant litigation costs, are finding their way into insurance premiums. Driven by abuse by aggressive advertising by big law firms, financing by third-parties and jury anchoring, many are calling it legal system abuse. To many, the word, “abuse” might not be strong enough.
“Legal system abuse has driven up litigation expenses and costs, impacting businesses and consumers across the United States,” Hackett said. “If left unchecked, these rising costs will continue to increase insurance premiums and limit coverage options.”
Here are the top-10 states where thermonuclear verdicts are being found. The top two are the PIA Western Alliance states of Nevada and California. Just missing the top-10 are the PIA Western Alliance states of Washington and Oregon.
1. Nevada
Verdict sums: $8.55 billion
Number of verdicts: 4
Top sector for those verdicts: Beverages
2. California
Verdict sums: $6.90 billion
Number of verdicts: 17
Top sector for those verdicts: Movies/entertainment
3. Pennsylvania
4. Texas
5. New York
6. Missouri
7. Delaware
8. Lousiana
9. Illinois
10. Florida
12. Washington
Verdict sums: $336 million
Number of verdicts: 4
Top sector for those verdicts: Airfreight and logistics
13. Oregon
Verdict sums: $292 million
Number of verdicts: 3
Top sector for those verdicts: Pharmaceuticals
Source link: PropertyCasualty360.com — https://bit.ly/4enkqxM