This #RiskConverations webinar will present the findings of our research report, Social Inflation: Navigating the evolving claims environment.
Social inflation tends to occur in bouts or waves and respond to changes in the liability landscape. There are signs that social inflation has emerged again as a disruptive issue for companies and their insurers. The number of claims being pursued through the courts has risen sharply over the past few years, especially class actions, along with the amount of compensation awarded to plaintiffs.
Though social inflation is most acute in the U.S., it is starting to spread to other jurisdictions as well. COVID-19 only adds to the uncertainty about the future claims and litigation environment.
In this webinar, we’ll explore the following questions:
- What is social inflation and how does it manifest for insurers?
- How does this episode of social inflation differ from previous ones, particularly bouts in the 1980s and 1990s/2000s?
- What are the main recent underlying drivers of social inflation?
- How is COVID-19 expected to affect these drivers and future liability claims?
- How are insurers responding to this latest episode, particularly in their underwriting approaches?