'Look What Texas Is Doing': States with Biggest Insurance Settlements—And Those Pushing Back

Litigation attorney Lee Teichner spoke with Daily Business Review about the rise of nuclear settlements in the U.S. Nuclear settlements either amount to more than $10 million or are those in which the non-economic damages like pain and suffering greatly exceed economic damages like medical bills. Currently, California, Florida, New York, Pennsylvania, Texas and New Jersey account for almost 65 percent of nuclear settlements in the country. Mr. Teichner recognized the risk of going to trial to obtain a nuclear verdict.

"Nuclear settlements are a function of nuclear verdicts, and a recognition that going to trial is a risky proposition — both before and now," he said.

READ: 'Look What Texas Is Doing': States with Biggest Insurance Settlements—And Those Pushing Back