Insurance Industry requests “Tort Reform” when it Reaps Billions in Profits, Denies & Delays Justice to Those Wrongly Injured or Killed
Insurance companies spend billions of dollars every year in advertising campaigns aimed at earning your trust and ensuring they will be by your side when you are faced with difficult times. The Progressive Corp.'s advertising spending hit a record high of nearly $3.5 billion in 2024.1 However, insurance companies often engage in tactics to deny legitimate claims and stall payments in the hope of wearing down victims to accept less than fair compensation, while rewarding executives with extravagant salaries and hoarding excessive profits.2 In fact, the chairman and CEO of Travelers Co. was listed as one of the highest paid insurance executives in the United States. He received over $23 million in compensation in 2024.3
- The number of all civil lawsuits filed in Illinois courts dropped 61 percent since 2010.4
- The number of medical malpractice cases in Illinois has dropped 39 percent since 2003.5
- The number of asbestos lawsuits filed in Madison County has also declined. Since 2013, the number of cases filed is down 45 percent.6
Insurance companies are simply seeking to change and destroy settled law that gives ordinary people a fair shake in the courtroom. Their “reforms” are intended and designed to deny injured people their constitutional right to a jury trial under the 7th amendment of the U.S. Constitution.
1 “Progressive's advertising expenditure hits record high in 2024” found at: https://www.spglobal.com/market-intelligence/en/news-insights/articles/2025/3/progressives-advertising-expenditure-hits-record-high-in-2024-88020488
2 Fortune; http://fortune.com/fortune500/wal-mart-stores-inc-1/
3 “Highest-paid insurance executives 2024” found at: https://www.businessinsurance.com/gallery/highest-paid-insurance-executives-2025/
4 “Annual Report of the Illinois Courts, Statistical Summary,” 2010 to 2024, http://illinoiscourts.gov/SupremeCourt/AnnReport.asp
5 “Collar County Medical Malpractice New Suits,” Law Bulletin Publishing Company, reflecting filings through 2021 in 20 Illinois counties including Cook, DuPage, Lake, Kendall, Kane, Madison, St. Clair and Will.
6 Madison County Circuit Clerk Office. Brian Davis: bdavis@co.madison.il.us
7 Fortune; Fortune Magazine. https://fortune.com/ranking/fortune500/?utm_source=iterable&utm_medium=email-blast&utm_campaign=06022026_B2C_GLBL_Subscribers_Engagement_e2&utm_id=13718929&utm_content=17933849&Name=state+farm
PDF Fact Sheet: Insurance Industry Request Tort Reform when it Reaps Billions In Profits
