Trumpeting a slogan, “Responsibility, what’s your policy,” Liberty Mutual Group (also known as Liberty Mutual) has lived up to its own words by responsibly building a large and stable business. Founded in 1912, this Boston, Massachusetts insurance company has amassed one of the largest policyholder bases in the industry.
In fact, it is the third largest insurer of casualty and property insurance in the country. To reach these heights, Liberty Mutual has assembled a team of over 50,000 employees in nearly a thousand offices around the world. Currently, it holds over $100 billion in combined assets and generates almost $40 billion in revenue annually. Liberty Mutual also effectively utilizes several subsidiary companies it has acquired, such as America First Insurance, Golden Eagle Insurance, Ohio Casualty, and Safeco.
Liberty Mutual has four main lines of insurance products: personal, commercial, international, and specialty. Liberty’s personal line, and by far its better-known line, offers individuals insurance for such things as automobiles, homes, boats, and even life insurance. It is able to stay competitive and offer decent rates by leveraging its network of subsidiary companies and thousands of independent agents. Liberty also offers products and services to companies of all sizes (but distinguishes between those with more than 1,000 employees and those with less than 1,000 employees).
These companies can purchase insurance for property, casualty, and even group benefits. Liberty’s international line brings most of the same domestic services to the world, but primarily caters to private individuals with automobile coverage. Finally, its specialty line provides insurance for unique items and circumstances including airplanes, ships, and professional liability.A Glimpse into Liberty Mutual Litigation
Not all customers and passersby have found Liberty Mutual to act responsibly or accommodatingly. Many victims, distressed over Liberty’s actions or inactions, have taken to courtrooms to compel it to right a wrong or to proceed according to their insurance plans. What follows now is a review of litigation against Liberty over the last ten years (since 2005). This analysis of jury awards and settlement amounts will demonstrate where and to what extent plaintiffs have been successful in holding Liberty’s feet to the fire.
By far, the most common topic of litigation was insurance, especially related to subrogation. However, employment and property concerns were spread out across many cases as well. Looking at Liberty’s caseload as a whole, the range of returns for awards and settlements pretty closely followed the bell curve typical of litigation against other insurance providers. For instance, approximately a quarter (23% to be exact) of all plaintiffs received nothing. Forty-three percent (43%) brought in somewhere between one dollar ($1.00) and one hundred thousand dollars ($100,000.00). The rest recovered more than that amount, with roughly eight percent (8%) receiving figures above one million dollars ($1,000,000.00).
Plaintiffs were much more successful against Liberty Insurance once we separate insurance cases from the rest of the pack. For example, a lower percentage of them (about 19%) recovered nothing compared to the group as a whole. Also, a high number of insurance plaintiffs, almost forty percent (40%), received more than one hundred thousand dollars ($100,000.00). Conversely, a relatively low number of them gathered an award or settlement between zero and one hundred thousand dollars ($100,000.00).
These atypical results were also manifest in the cases against Liberty Mutual in Illinois: only about sixteen percent (16%) of plaintiffs recovered nothing; only about thirty-three percent (33%) recovered between zero and one hundred thousand dollars ($100,000.00); and a high number of plaintiffs recovered more than one million dollars (almost 13%)! To summarize, here are some key facts about litigation against Liberty Mutual:
- Almost one in four plaintiffs lost against Liberty Mutual (i.e. received nothing!).
- Illinois cases represented a small percentage of Liberty Mutual’s overall caseload.
- On average, insurance cases generated higher awards and settlements than those involving other subjects.
While Liberty Mutual often talks about responsibility, what they do not show is flexibility. After making a claim for damages following an auto accident (for things such as medical bills, property damage, and other things), Liberty will usually return an offer for compromise fairly soon. However, you will find that this offer is normally rigid. Without making a strong case for raising that amount, they normally will not ever do so. Therefore, it is critical following an Illinois car incident to have a competent and zealous attorney at your side so he or she can make sure your legal bases are protected. This will ensure you maximize your recovery. Contact Rosenfeld Injury Lawyers today to hear about how we can help you at each stage of the process-from the claims handling to the courtroom.