December 2020 claims data analysis

December 2020, CaseGlide’s Florida Claims Data Analysis

As the industry’s leading claims litigation management software provider, CaseGlide compiles a broad swath of claims data that represents a variety of segments and geographies. One of the most interesting data sets that we regularly gather and analyze are litigated claims specific to the majority of Florida’s largest P&C insurance organizations.

New litigated claims rebounded in December for Florida’s largest P&C insurers. An increase of 17% to 5,032 new litigated claims was recorded, up from November’s count of 4,307. The December increase continues the upward trend in new litigated claims that began in June 2020 and only experienced a brief dip in November, where new litigated claims fell 19% from the prior month.

Of the 17 largest Florida insurers we regularly monitor, all but two grew their litigated claims month over month in December. In that same period, litigated claims for seven insurers grew by greater than 20% and an additional seven grew between 10 and 20%.

“We continue to keep a close eye on new litigated claims for these Florida insurers,” said Wesley Todd, CEO of CaseGlide. “We haven’t experienced an increase in December claims over November figures since 2015. Additionally, we haven’t seen a year that showed a continuous increase from the summer months through year-end since we began monitoring the Florida industry.”

AOB cases as a percentage of total new litigated cases in December were at 20%. While that percentage hasn’t varied much in the past four months, it has declined gradually from 31% registered in December 2019 and is down significantly from a May 2019 peak of 55%. We expect that percentage to either stay constant or decline as we enter 2021.

For 2020, the top 10 AOB contractors in the state represent 33% of all AOB-related new litigated claims, with the top contractor alone commanding 10%.

Geographic distribution of new litigated claims continues to be dominated by the state’s southern counties, with Miami-Dade accounting for 21% of claims, followed by Broward at 18%, and Palm Beach County at 11%. Those county percentages were mostly consistent over the course of 2020.

CaseGlide remains committed to observing this data closely, monitoring to see if these patterns persist and how the trends will impact insurers across Florida.

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