How Insurers Are Combating Legal System Abuse
Studies and statistics indicate that certain age groups, specifically 18-29 and 50-59, are more inclined to award larger sums in verdicts.
Factors such as Reptilian Theory, social inflation, litigation funding, and advertising are influencing juries, contributing to the surge in nuclear verdicts—defined as verdicts exceeding $10 million.
Gen Z's close connection to technology might influence their attention spans and persuasion in the context of jury duty.
Public perception is shaped by various factors, such as seeing high earnings in professional sports, corporate executive compensation, and large corporate financial events.
Insurers need to handle claims strategically, without being deterred by the possibility of a nuclear verdict, which can lead to inflated settlement values and hesitation to proceed to trial.
