Reinsurance News

Florida P&C insurers see 7% drop in litigated claims: CaseGlide

14th January 2022 - Author: Matt Sheehan

New data from claims litigation management software provider, CaseGlide, shows that the number of new litigated claims dropped 7% between November and December 2021, for Florida’s largest P&C insurers.

Analysts noted that December’s number also represents a 49% decrease from July’s high of 6,663 new litigated claims.

Of the 17 largest Florida insurers that CaseGlide regularly monitors, 11 registered a month-over-month decrease in new litigated claims for December.

Three insurers registered a decrease of greater than 20% month-over-month, and three had decreases between 10% and 19%.

One insurer experienced an increase of 28%, four had increases between 1% and 5% and another showed no change month-over-month.

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“The December 2021 results are following a normal pattern of trailing off as the calendar year ends,” said Wesley Todd, CEO of CaseGlide.

“The 49% decrease from the July high of 6,663 is most likely tied to the SB76 Bill going into effect, and we expect to see levels normalize as we move into 2022. One important note for year-end is that we’re seeing increased levels of AOB cases across the insurers, with 10 insurers registering greater than 30% of their newly litigated cases as AOBs.”

According to CaseGlide’s data, AOB cases as a percentage of total new litigated cases in December moved higher to 33%, the highest percentage registered in 2021. The AOB percentage has increased steadily from the low 17% to 20% figures registered in the first six months of 2021.

The top 10 AOB contractors in the state continue to represent 30% of all AOB-related new litigated claims, with the top contractor responsible for 6%.

Similar to the prior six months’ results, geographic distribution of new litigated claims remains mostly unchanged, with Miami-Dade County representing 24% of new litigated cases, Broward County following at 16%, Palm Beach County at 7%, Orange County at 7% and Hillsborough County at 7%.

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