The number of new litigated claims among Florida’s largest property and casualty insurers dropped 4% month over month in July, according to a new report by CaseGlide, a provider of claims litigation management software.
The number of new litigated claims for Florida P&C insurers was 4,091 in July, down from 4,261 in June. July’s total continues a relatively flat pattern of new litigated claims volume between 4,000 and 4,700 since January, CaseGlide said.
Of the 16 largest Florida insurers CaseGlide regularly monitors, five posted a monthly increase in July, with one recording a 29% month-over-month spike and four posting increases between 1% and 11%. Of the nine insurers recording month-over-month declines, six showed declines of less than 15%, three were between 30% and 50%, and one, Southern Fidelity, produced no new litigated claims, as they were declared insolvent on June 15. One other organization showed no gain or loss for July, CaseGlide reported.
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For notices of intent to initiate litigation (NOIs) received by the same insurers, July showed a small month-over-month drop to 2,986 from June’s 3,045.
Assignment of benefits (AOB) cases as a percentage of new litigated cases rose to 41% in July. AOB percentages of new litigation are higher than at any time in the past 18 months, CaseGlide reported.
Miami-Dade County continues to lead Florida in the percentage of new litigation at 25%, followed by Broward County at 16%, Orange County at 7%, Palm Beach County at 7%, and Hillsborough County at 6%.