The survey was conducted during May and June of 2006 on 422 companies corporate law departments, including 311 in the U.S., in multiple business sectors. Insurance companies came out as the biggest magnets for litigation with “approximately 1,700 cases pending by the average insurer.” That amount was “more than five
times the average tally posted by the next highest sectors, energy (364), retail (333) and financial services (300).”There appears no slowing down of the wave of cases as “more than half of insurance company counsel reported taking on 50 or more new lawsuits in the past year.” These lawsuits carry a high price tag with “17 percent reporting having more than 50 lawsuits pending with at least $20 million at issue.”
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