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Why Social Inflation Matters for Insurance Agents and Their Clients
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When a Lawsuit Costs More Than Expected: Understanding Social InflationPicture a slip-and-fall claim at a neighborhood restaurant. Fifteen years ago, it might have wrapped up with a feasible settlement, a few phone calls, and a policy renewal that barely flinched. Run the same claim today, and the story can look very different. Bigger demands, sharper attorneys, a longer fight, and a number at the end that makes your client’s face go pale.Nothing about the restaurant changed. The same menu, the same floors, the same pleasant staff. What changed is the environment around the claim. That shift...
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