Munich Re warns that European companies with US business are exposed to 'nuclear' jury verdicts

Munich Re has told European businesses with US operations that they may need to look again at their casualty risk, Reinsurance News reported on 9 October. The reinsurer said very large jury awards, known as nuclear verdicts, "remain a significant concern for the US casualty market" and that the exposure "is not confined to US-based businesses".

Munich Re cited the 2026 Marathon Strategies Report, which found that almost 200 corporate lawsuits ended in verdicts of at least US$10 million in 2025. That is more than 40% more than in 2024. More than 40 of the awards were above US$100 million.

As an example, Munich Re pointed to a US$604 million jury award after a fatal truck accident. The jury also found the freight broker liable, although the broker did not employ the driver.

Munich Re lists litigation strategies, third-party litigation funding, claims inflation, higher legal costs and social media as causes of the trend. It also names litigation over ultra-processed food as an emerging liability area, but says it is not yet clear whether this will become a major mass-tort exposure. The report did not give figures for loss trends or reserves.