Nuclear Verdicts and Social Inflation: A Growing Concern for Insurers
In 2023, the U.S. witnessed a surge in so-called “nuclear verdicts™,” with 27 court cases each awarding over $100 million in damages. This trend has propelled social inflation—a term describing the rising costs of insurance claims beyond economic factors—to a 20-year high of 7%. Developments like these are reshaping the landscape of liability insurance, leading to increased …
Nuclear Verdicts and Social Inflation: A Growing Concern for Insurers Read More »