Mitigating the Impact of Social Inflation on Corporations, the Economy and Society
One of the most pressing issues facing businesses and their insurance providers is the escalating scale of jury awards in legal cases, a trend that shows no signs of slowing down. Social inflation has become a prominent concern for corporations, making them increasingly cautious about going to trial. Verdicts exceeding $10 million have become common, especially when plaintiff lawyers frequently set their initial demands at more than $100 million. A recent case even culminated in a staggering $16 billion judgment against the defendant.
In this online interactive event, we will explore the causes and consequences of social inflation, discuss who wins and who loses, and share winning strategies for mitigating the impact of social inflation.
Learning Objectives:
- Defining social inflation in a nutshell
- Exploring the causes and consequences of social inflation
- Understanding mitigation strategies to manage the risks posed by social inflation
Speakers:
- Kevin LaFreniere, Senior Vice President at The Hartford
- Kate Boyd, COO at Sente Advisors
- Raymond E. Bayley (Moderator), President, Chief Executive Officer and Co-Founder at Novus Law
