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.
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%.