PartnerRe said in a 2010 white paper that social inflation is the increase in insurance losses caused by higher jury awards; more liberal treatment of claims by workers' compensation boards; and increased use of social media, among several other factors. (Credit: syahrir/Adobe Stock) PartnerRe said in a 2010 white paper that social inflation is the increase in insurance losses caused by higher jury awards; more liberal treatment of claims by workers' compensation boards; and increased use of social media, among several other factors. (Credit: syahrir/Adobe Stock)

The scourge of legal abuse in insurance is hardly new or even recent but rather has been insidiously growing throughout the industry for decades.  Referred to today as social inflation, the stakes are higher and so-called "tort reform" seems elusive.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Coverage & Policy Issues
Litigation
Loss Control