The Institutes

Social Inflation: The Ultimate Pain Point of Liability Insurance

 Monday, May 17, 2021

 Insurance Business

Social inflation is a huge pain point in US liability insurance.

It is a term used to describe the phenomenon of rising costs of insurance claims resulting from increased litigation, broader definitions of liability, more plaintiff-friendly legal decisions, and larger (sometimes nuclear) compensatory jury awards.

The impacts of social inflation have been felt more acutely in some sectors than in others. For example, the trucking industry is a major target.

Over the past 20-years, the reputation of the trucking industry has been tarnished to the extent that any significant motor collision involving a large commercial vehicle can result in a nuclear jury verdict.

Other industries to feel the sting include: pharmaceutical and medical device manufacturers (especially regarding their product liability), as well as large corporations (in particular, their D&O and E&O liability).

Social Inflation; What Can Insurers Do About It?

 Wednesday, January 27, 2021

 Insurance Information Institute

Tackling Pain Points, Starting With FNOL

 Friday, January 15, 2021

 Insurance Business

Litigation Funding And Social Inflation

 Monday, January 4, 2021

 Canadian Underwriter

Adjusting For Social Inflation In Litigation

 Wednesday, December 30, 2020

 The CLM

How Analytics Can Tame ‘Social Inflation’

 Thursday, October 8, 2020

 Insurance Thought Leadership

What Is Social Inflation, And Why Is It Hurting Insurance?

 Friday, January 3, 2020

 Insurance Business