Social Inflation Insight: Social Inflation’s COVID Decline
It's no secret that the COVID pandemic has provided a massive shock to the global economy over the past two years and left many wondering how it would impact litigation payouts. While early data suggested that social inflation may be decreasing, a report from S&P's Global Market Intelligence indicates the slide is likely illusionary.
In its report, S&P indicates that COVID-induced reduction in civil litigation coupled with pandemic-related lengthening of case times are likely temporary phenomena.
The question, it seems, is how strongly social inflation will return.
An American Transportation Research Institute report left little doubt that social inflation was a growing threat at the start of the pandemic. As civil litigation cases pick back up, we expect social inflation to continue its unrivaled growth if unaddressed.
Triple-I will continue to bring you the best research and analysis so you can stay ahead of the social inflation curve. Go to iii.org/socialinflation for more resources.