Social inflation: The new defense playbook

We’ve been bombarded with news stories and alarming anecdotes about the exponential rise in settlement and verdict values. It would be easy to get lost in a sea of statistical evidence or analysis of the drivers of social inflation.

Another approach, which is more effective, is to methodically attack the problem by studying the strategies of the plaintiffs’ bar and to implement concrete measures to counter (and copy) the tactics of the plaintiffs’ bar. In this Trend Spotlight, we discuss the current situation and offer 10 concrete and proven measures that insurers and their counsel must take to stem the tide of social inflation and reestablish a defense advantage.