Credit: Bart Sadowski/Adobe Stock
Some phrases seem to sneak into the litigation vernacular before there's time to stop and think about what they actually mean.
That's how I felt about the term "social inflation" until very recently. Social inflation gets thrown around often by defense lawyers and those in the insurance industry to explain what they see as trendlines broadening tort liability — and the costs associated with that liability. Those that most often employ the term would argue social inflation has created a feedback loop where the level of potential dollars at stake has led claimants and their lawyers to expect even more windfalls leading to more claims and lawsuits, rinse and repeat.
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Ross Todd
Ross Todd is the Editor/columnist for the Am Law Litigation Daily. He writes about litigation of all sorts. Previously, Ross was the Bureau Chief of The Recorder, ALM's California affiliate. Contact Ross at [email protected]. On Twitter: @Ross_Todd.
