Unlike traditional drivers such as wage or price inflation, this increase stems from legal system dynamics. As a result, historical loss patterns no longer reliably predict outcomes, particularly in severe injury and wrongful death cases.
Tag: liability claims
The Shadow of Social Inflation Still Looms for U.S. Liability Claims
U.S. liability claims costs have risen by an annual average of 16% over the last five years, well above average rates of economic inflation at around 4%.
Early Attorney Involvement Key Driver in Liability Claims
In May 2020, Sedgwick published an analysis of liability claims litigation trends and practices. When that analysis was being published, the world became entrenched in the COVID pandemic that over the course of the last two years has had a tremendous impact on practically all aspects of our lives; it has been described as an… Continue reading Early Attorney Involvement Key Driver in Liability Claims