Evolving Trends in Personal Injury Settlements: A Decade of Growth
From 2009 to 2020, the money people got for personal injury claims went up a lot. In 2009, they got around $43,128, but by 2020, this amount grew to $125,366. This shows us that the legal world is getting better at making sure people who get hurt receive more money to help them. This information helps us understand how important it is to know our legal rights and get the right help.
Injury Jury Awards by Liability Type
Median And Average Personal Injury Jury Awards By Type Of Liability, 2007-2023*
www.consumershield.com* 2021-2023 values are calculated by linear regression model
Source: Insurance Information Institute
2011-2015: Steady Increase Amidst Landmark Settlements
The year 2011 marked a significant rise in settlement amounts, with the median for vehicular cases at $31,261 and $2,531,882.25 for product liability. This increase can be partly attributed to some landmark legal settlements:
- BP Deepwater Horizon Oil Spill Settlement (2012): $4.5 Billion
- Johnson & Johnson Risperdal Settlement (2013): $2.2 Billion
This upward trend continued through 2015, with the median settlement for vehicular cases reaching $39,360 and product liability at $2,500,000.