Happy Wednesday! In this week’s Big I Buzz: a Wisconsin insurance agent shares flood coverage insights, and new data confirms record-high federal lawsuit damages tied to “social inflation.”

Flood Victims Realize Insurance Won't Cover Damage, Insurance Agent Offers Tips

Following last weekend’s historic flooding, many Wisconsin residents are learning too late that standard homeowners policies don’t cover flood damage. Insurance agent Justin Staebler spoke with CBS58 Milwaukee, offering tips and stressing the importance of evaluating flood risk before disaster strikes.

Staebler noted that most homeowners opt out of flood insurance—often assuming it’s unnecessary—yet coverage costs can vary widely. His reminder: it’s worth considering the protection before you need it. Read more here.

Federal Lawsuit Damages Hit Record Highs as ‘Social Inflation’ Claims Gain Data Support

A new Lex Machina 2025 Damage Awards Report, analyzing more than 73,000 federal cases, reveals that average damage awards in 2023 and 2024 hit record highs. The findings provide data-backed evidence for insurance industry concerns over “social inflation”—the trend of rising litigation costs and jury awards.

The report highlights a sharp split in outcomes: jury verdicts have surged dramatically, while judicial awards have remained comparatively stable. Read more here.

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