'Nuclear' verdicts make it feel like the 1970s again for some insurance executives
The price of milk and gasoline may be stable these days. But some insurance executives feel like the 1970s are back again when it comes to other kinds of inflation.
Insurance executives in the U.S. have recently expressed a wave of concern about something called “social” inflation. In insurance-industry parlance it typically refers to an upward creep in perceptions by an injured party of what they are owed, their willingness to pursue that via the legal system, and what that means for insurance policies covering companies’...
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