Latest Social Inflation Headlines
All the headlines from our Social Inflation Topic Page, ordered by recency.
How Social Inflation Is Impacting the Architects, Engineers Market
Feb 20 2023 // Social inflation has been a hot topic across the insurance industry over the last few years as claims frequency and severity continue to increase across nearly every line of business. While some lines, such as commercial...
Report Says Social Inflation Adds Up to 11% to Physician Malpractice Claims
Jan 25 2023 // Social inflation accounts for 8% to 11% of all medical malpractice losses for carriers that insure physicians, according to an actuarial analysis commissioned by The Doctors Co. TDC hired Moore Actuarial Consulting to...
Insurance 101: What is Social Inflation?
Sep 21 2022 // This post is part of a series sponsored by AgentSync. Social inflation is a term specific to the insurance industry and describes the rising costs of insurance claims above and beyond what can be explained by the overall...
Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
Mar 7 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Mar 2 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims...
Actuaries: Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
Feb 24 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
Social Inflation or Science: What Is Fueling Climate Litigation?
Sep 23 2021 // A rising amount of litigation tied to the environmental and health impacts of greenhouse gas emissions prompted a question from the leader of a liability risk analytics company recently: “Is it about climate...
Social Inflation and Increasing Demands Drive Hard Market for Security Industry
May 17 2021 // As insurance markets harden across most lines, many in the industry are looking at the impact of social inflation: Increased litigation, broader contract interpretations and larger jury and settlement awards are driving up...
Everest Re Cites Social Inflation for $400M Prior-Year Reserve Charge
Jan 27 2021 // Everest Re is the most recent insurance and reinsurance company to announce catastrophe and COVID losses in advance of fourth-quarter earnings, but Everest’s disclosure on Monday also addressed a boost in prior-year...
Social Inflation Lesson: Not Settling Cost Insurer Millions in Suit by Excess Insurer
Jan 11 2021 // The defense team for Chubb Group’s Ace American Insurance Co. was confident that no jury would award more than $2 million in a wrongful death lawsuit filed by the family of Mark Braswell, who died on May 16, 2014,...
Social Inflation Lesson: Not Settling Cost Insurer Millions in Suit by Excess Insurer
Dec 23 2020 // The defense team for Chubb Group’s Ace American Insurance Co. was confident that no jury would award more than $2 million in a wrongful death lawsuit filed by the family of Mark Braswell, who died on May 16, 2014...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 21 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 11 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 21 2020 // Even before the coronavirus crisis hit, the reinsurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’
Sep 18 2020 // Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a...
What Is the No. 1 Emerging Litigation Risk? ‘Forever Chemicals,’ Says Praedicat
Sep 17 2020 // The top emerging litigation risk identified for the year ahead is PFAS, the so-called “forever chemicals” used in a wide variety of products such as Teflon, Scotchgard, food containers, firefighting foam and...
Coronavirus Pandemic Will Have Severe Impact on Social Inflation: Fitch’s Mazzuoli
Sep 15 2020 // Claims inflation for the commercial liability business will increase through 2020, although it was accelerating even before the coronavirus pandemic hit. This trend, known as social inflation, has led the insurance...
Reinsurance Sector ‘Stable’ Despite Major Headwinds: AM Best
Sep 14 2020 // The tailwinds propelling the global reinsurance sector are sufficient impetus for the ratings agency AM Best to retain its stable outlook for the reinsurance industry, despite multiple challenges. During a virtual press...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 9 2020 // Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
Court Lockdowns From COVID-19 May Turn the Social Inflation Tide
Jun 15 2020 // Defense attorney Ellen Greiper reported receiving more than the usual number of phone calls from plaintiffs attorneys last month, suggesting that the call dynamics could be signaling a COVID-driven change in social...
