Legislative News
In 2023, Georgia was ranked Most Challenging Legal Climate, a direct result of recent nuclear verdicts. These verdicts have led to a decline in carrier markets available to your clients and has caused the Independent Insurance Industry in Georgia to fall into a crisis.
Below is a collection of articles that highlight the on-going issue in Georgia. These articles are a great resource to share with your clients and at your agency.
MARKETS
Insurers' Home Insurance Exodus– What Does It Mean for the Market?
A recently released study from JD Power highlights the recent insurer exodus trend in several states.
Underwriting Losses Spike Commercial Auto Insurance
Commercial auto has been one of the P-C sector’s worst-performing lines of business since 2012, according to AM Best.
US personal Lines Insurance Retains Negative Outlook
AM Best is maintaining a negative market segment outlook for the US personal lines insurance segment into 2024.
The Implications of Rising Auto Premiums and Uninsured Drivers
The number of drivers looking to buy more than state-minimum limits dropped 51% in the first half of 2023.
MARKET IMPACT
From Client To Courtroom: The Impact Of Nuclear Verdicts
The rise of “nuclear verdicts” has profound implications for insurance carriers and the insurance pricing environment.
What Can We Do About Rising Social Inflation?
Social inflation, or the rise of insurers' costs to cover claims above general economic inflation, is a growing threat to insurance affordability.
How Legal System Abuse Drives Social Inflation
Legal system abuse is the biggest cost driver of social inflation and our threat to an affordable insurance system.
Georgia Ranked #1 Judicial Hellhole, Replacing California as Top State
State courts issue some of the country’s largest nuclear verdicts, as GA trial attorneys cash in big earnings.
REFORM
Kemp’s push for litigation limits supported by small business leaders
Gov. Kemp wants to make it harder to file lawsuits and win big legal judgments, arguing that suits are driving up insurance costs.
Governor Kemp to Lead on Tort Reform Action
Gov. Kemp announced his desire to sign legislation that aims to reduce insurance premiums and curb “frivolous lawsuits”.
Bill Would End Direct Action Suits Against Insurors in Truck Accidents
Truck insurers would be able to avoid being named as defendants in lawsuits filed after trucking accidents under this bill.
Reform Premises Liability Law; Attack Frivolous Lawsuits
Lawsuits resulting from third-party crime have sky-rocketed in Georgia, both in number of cases and the verdict amounts.
GEORGIA CASES
GA Supreme Court Issues $43M Verdict on Negligent Security Claims
Georgia CVS Pharmacy, LLC v. Carmichael focuses the liability of proprietors and security contractors for personal injuries.
Landmark Case Leads to Industry-wide Manufacturing & Safety Reform
A jury in GA has awarded a family the largest wrongful death settlement in history after the death of their son at Lake Burton.
$77 Million Verdict in Georgia Wrongful Death Lawsuit
Family sues a Georgia Addiction Center after son is killed on highway days after release from center.
Jury Imposes $1.7 Billion Verdict, Largest in State History, Against Ford
A wrongful death lawsuit by family of a GA couple killed in a 2014 rollover crash ends with state's largest verdict in history.
Six Flags Hit With $35M Verdict For Nearby Bus Stop Attack
A jury finds Six Flags liable for injuries after a brutal attack at a bus stop out of the amusement park.
Parking Lot Crime Leads to $70M Verdict Against Kroger
Kroger was found to be 86% at fault, while the criminals were found to be 14% in this historic Duty of Care case.
