Signs point to a continued rise in high-stakes awards
The rise of nuclear verdicts—jury awards surpassing $10 million—has already significantly impacted the insurance industry, and this year the trend may intensify.
Brian Pierce (pictured), chief underwriting officer at Victor US, noted that these staggering payouts, driven by a well-coordinated plaintiffs’ bar and shifting jury expectations, have doubled since 2020 and show no signs of slowing. In 2023, the median nuclear verdict rose to $44 million, up from $21 million in 2020.