Nuclear Verdicts and Social Inflation: How Mega Trends Impact the Availability and Cost of Commercial Insurance
As society’s views have changed regarding litigation, so too have the outcomes juries are awarding high-profile cases. “Social inflation” is a cultural phenomenon that’s giving rise to larger monetary awards – sometimes worth more than $10 million! In turn, insurance companies are raising premiums to cover the potential cost of catastrophic settlements. Will these trends bank into a never-ending spiral? Or is there an end in sight? In this roundtable discussion, our panelists will lend their expertise to where the trends of social inflation and nuclear verdicts are going, and how they are affecting the hardening insurance market.