As we delve into the halfway point of 2023, several key trends have emerged within the realm of insurance related class action activity. Drawing from a quarterly report by BakerHostetler, a comprehensive picture begins to develop regarding the changing landscape of property and casualty claims class actions.
This robust report summarizes two quarters of activity in the property and casualty claims class actions space, revealing substantial activity in time-honored theories such as labor depreciation and total loss claims.
However, evolution is a constant, especially in the realm of legal disputes. It is indeed notable that alongside traditional legal arguments, newer theories are beginning to establish themselves in class actions against insurers. Such developments warrant careful observation from professionals operating in this field.
Previously, labor depreciation was a common approach in insurance class actions, helping plaintiffs seek compensation for diminished labor value resulting from property damage. Similarly, total loss claims were frequently made by plaintiffs seeking recompense for a complete loss, such as a totaled vehicle or completely destroyed property.
Yet in recent quarters, we’ve seen innovative legal theories being explored in class actions against insurance companies. Whilst the specifics of these new theories remain proprietary information in the hands of innovative lawyers and forward-thinking plaintiffs, professionals in the sector should be prepared for changes in class action litigation trends.
For those seeking more detailed insights into these developments, the full report by BakerHostetler is available. This resource provides extensive analysis on current class action trends and can arm legal practitioners with valuable intelligence as they navigate the shifting terrain of insurance law.