Rate increases alone not enough to combat social inflation: Inside P&C panel
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Rate increases alone not enough to combat social inflation: Inside P&C panel

Specialty panel social inflation logos.jpg

Social inflation’s effects on reserves and loss trends are “here to stay” and could worsen as courts struggle to reopen and litigation is delayed, insurance executives have warned.

Rate increases need to be followed by enforced terms and conditions as verdicts and settlements rise in courts, according to executives on a panel focused on specialty lines at Inside P&C’s North America virtual conference.

Mia

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