The primary driver is litigation. In 2024, there were 135 nuclear verdicts against corporations, a 52% increase over 2023, totaling $31.3 billion, a 116% increase from the previous year. The median nuclear verdict climbed to $51 million in 2024, up from $44 million in 2023 and just $21 million in 2020. Swiss Re reported that excess trucking insurance coverage saw rate increases of more than 75%, with carriers forced to assume more risk as some insurers exited the market entirely.
