Runaway jury verdicts have been on the rise for 10 years, and their impact is apparent in claims that go to trial — there is a perception that someone must pay.
March 17, 2020 at 10:45 PM
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The rise of social inflation in the insurance industry or nuclear verdicts, as they are known in the legal industry, is creating a chilling effect for insurers. Jury verdicts have been steadily climbing for at least 10 years but seemed to reach an all-time high more recently.
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Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at firstname.lastname@example.org